The Supreme Court has dismissed appeals filed by Mr. Abubakar Peters, Managing Director of Nadabo Energy Limited, over an alleged N1.4 billion oil subsidy fraud.
Peters had challenged a Court of Appeal ruling that revoked his bail and imposed stricter conditions while also seeking leave to travel abroad for medical treatment.
Dele Oyewale disclosed this on Friday in a statement.
However, the apex court rejected both requests and ordered him to return to the Lagos High Court to face trial.
The case, presided over by Justice C.A. Balogun, involves Peters and his company, Nadabo Energy Limited, who are being prosecuted by the Economic and Financial Crimes Commission (EFCC) for allegedly using forged documents to fraudulently claim ₦1,464,961,978.24 from the Federal Government under the oil subsidy scheme.
Investigators allege that the defendants inflated the volume of Premium Motor Spirit (PMS) purportedly imported, enabling them to receive subsidy payments they did not earn.
Both defendants have pleaded not guilty, and the trial will continue as directed by the Supreme Court.
