Abuja Court Dismisses $1bn Malabu Oil Money Laundering Case

The Federal High Court in Abuja has dismissed a $1 billion cash laundering case filed by the Economic and Financial Crimes Commission (EFCC) towards Malabu Oil and Gas Company, businessman Aliyu Abubakar and different defendants over alleged fraudulent dealings involving Nigeria’s controversial Oil Prospecting Licence (OPL) 245.

Justice Inyang Ekwo, in a judgment delivered on Thursday, October 15, 2026, held that the EFCC did not show the allegations towards the eight defendants past affordable doubt.

The choose additionally faulted the fee for continuing with the prosecution regardless of a 2018 letter from the Attorney-General of the Federation (AGF) directing that the defendants shouldn’t be prosecuted due to inadequate proof.

The case, marked FHC/ABJ/CR/268/2016, concerned a 48-count cost bordering on alleged cash laundering linked to transactions involving the controversial oil block.

The EFCC alleged that about $1 billion and N673 million had been concerned within the offences.

The defendants, nevertheless, pleaded not responsible to the costs.

Those named within the case included Malabu Oil and Gas Limited, A-Group Construction Company Limited, Rocky Top Resources Limited, Mega Tech Engineering Limited, Novel Properties and Development Company Limited, Carlin International Nigeria Limited and Aliyu Abubakar.

In a separate judgment, Justice Ekwo additionally discharged Abubakar on 5 counts in a cash laundering case involving an alleged N300 million offence.

The choose held that the EFCC failed to ascertain the allegations in counts 5, six, seven, eight and 9, ruling that the proof introduced couldn’t maintain a conviction.

“The allegations in counts five, six, seven, eight and nine cannot be proved beyond reasonable doubt. I so hold,” the choose dominated.

He subsequently ordered Abubakar’s discharge on the counts.

The case had initially featured former Attorney-General of the Federation, Mohammed Adoke, and Abubakar as the primary and second defendants when the cost was filed in 2017.

In 2024, Justice Ekwo discharged Adoke after upholding his no-case submission however dominated that Abubakar had a case to reply.

The choose had then held that the prosecution established a prima facie case towards Abubakar on the 5 counts, requiring him to enter his defence.

However, within the newest judgment, the courtroom held that the EFCC had did not show the allegations towards the businessman past affordable doubt.