Malabu Oil: Court Frees Businessman Aliyu Abubakar, Others from Money-Laundering, Corruption Charges
Alex Enumah in Abuja Justice Inyang Ekwo of a Federal High Court, Abuja, on Thursday discharged and acquitted an Abuja-based businessman, Aliyu Abubakar and seven others from the money-laundering, criminal
The Federal High Court in Abuja acquitted Aliyu Abubakar, the Chairman of AA Oil Limited, and six other defendants, including Malabu Oil and Gas Limited, of alleged $1bn money laundering offences linked to Oil Prospecting Licence 245, on Thursday. The Economic and Financial Crimes Commission (EFCC) failed to prove the allegations beyond reasonable doubt, according to Justice Inyang Ekwo's judgment.
The defendants were prosecuted in a 43-count charge, filed in December 2016, over alleged fraudulent dealings involving OPL 245. The judge also criticized the prosecution for moving forward with the case despite a 2018 letter from the Attorney-General of the Federation, Abubakar Malami, advising against prosecution due to insufficient evidence.
The investigation preceding the charge was not completed before the defendants were prosecuted, according to Justice Ekwo.
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