Oil
Abuja court dismisses malabu oil money laundering case
A federal court in Abuja has acquitted Malabu Oil and Gas Limited and businessman Aliyu Abubakar in a long-standing money laundering trial.
Key points
- Federal High Court clears eight defendants of money laundering charges.
- Judge criticises EFCC for prosecuting despite Attorney-General advice.
- Separate ruling discharges Abubakar from an additional N300 million charge.
Court ruling on OPL 245
According to reports from The Whistler and Ripples Nigeria, Justice Inyang Ekwo of the Federal High Court in Abuja discharged and acquitted Malabu Oil and Gas Limited, Aliyu Abubakar, and six corporate entities. The trial centred on transactions related to Oil Prospecting Licence (OPL) 245, with prosecutors alleging financial misconduct involving roughly $1 billion and N673 million.
Delivering his verdict on Thursday, the judge stated that the Economic and Financial Crimes Commission failed to substantiate the accusations beyond reasonable doubt. He further rebuked the agency for initiating legal action against the formal guidance of the Office of the Attorney-General of the Federation, which had previously advised dropping the matter due to insufficient proof.
Separate acquittal
In a related legal proceeding, Justice Ekwo cleared Abubakar of five additional counts involving N300 million. The court concluded that evidence presented by the prosecution fell short of sustaining a conviction. The initial filings in 2017 also included former Attorney-General Mohammed Adoke, who secured a discharge via a no-case submission in 2024.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
