Malabu Oil Funds: Court Frees Aliyu Abubakar, 7 Others From Money Laundering Charges

Justice Inyang Ekwo of the Federal High Court in Abuja has cleared businessman Aliyu Abubakar and seven others of allegations of money laundering, criminal misappropriation, forgery and other offences relating to the management of Malabu Oil and Gas Limited’s funds.
The court delivered two separate judgments on Thursday, holding that the Economic and Financial Crimes Commission (EFCC), which prosecuted the cases, failed to prove the offences alleged in the two charges comprising a total of 53 counts.
The first judgment concerned a 43-count charge marked FHC/ABJ/CR/268/2016, in which Abubakar was tried alongside Malabu Oil and six other companies.
The court held that the EFCC erred b...