The Federal High Court in Abuja, presided over by Justice Inyang Ekwo, discharged and acquitted oil mogul Aliyu Abubakar and seven other defendants on money laundering charges. The charges were filed by the Economic and Financial Crimes Commission (EFCC) in 2016, alleging complicity in the diversion of $401,540,000 linked to the Malabu Oil & Gas Limited deal. The funds were said to have been paid from a Federal Government account with JP Morgan Chase Bank in London into Malabu Oil's account with First Bank of Nigeria. The court's judgment brings an end to the case against Abubakar and the other defendants.
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