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EFCC re-arraigns Malabu, businessman, six others for alleged money laundering



The Economic and Financial Crimes Commission (EFCC) on Tuesday re-arraigned Malabu Oil and Gas Limited on fresh money laundering charges.

The commission re-arraigned Malabu alongside a businessman, Aliyu Abubakar, and six other companies on a 67-count charge before Justice Inyang Ekwo of the Federal High Court, Abuja.

The companies were: A-Group Construction Company Limited, Rocky Top Resources Limited, Mega Tech Engineering Limited, Novel Properties and Development Company Limited and Carlin International Nigeria Limited.

The defendants were initially arraigned on a nine-count charge in 2016.

A former Attorney-General of the Federation and Minister of Justice, Mohammed Bello Adoke and a former Minister of Petroleum Resources, Dan Etete were mentioned in the case.

READ ALSO: EFCC re-arraigns Adoke over Malabu scam

At the commencement of proceedings on Tuesday, the defendants pleaded not guilty to the charges against them.

The EFCC’s lawyer, Bala Sanga, told the court that Malabu alongside Etete, Seidougha Munamuna and Amaran Joseph, who were directors of the company, took control of $401,540,000 paid from the Federal Government’s Escrow Account with JP Morgan Chase Bank in London into Malabu’s account domiciled with First Bank of Nigeria Limited.”

Abubakar, on the other hand, was accused of using his companies to receive proceeds of the Malabu Oil deal.

Justice Ekwo adjourned the hearing on the matter till September 10.

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