Nigeria, April 1 -- The Economic and Financial Crimes Commission (EFCC) has rearraigned the CEO of Nadabo Energy, Abubakar Peters, at the Lagos State High Court in Ikeja over an alleged N1.4 billion oil subsidy fraud.

According to a statement by EFCC spokesperson Dele Oyewale on Tuesday, Mr Peters appeared before trial judge Ismail Ijelu.

The statement noted that Mr Peters and his company previously stood trial before another judge, C.A. Balogun of the same court.

However, the case was reassigned to Mr Ijelu following Mr Balogun's retirement.

The defendants are facing 27 counts of using forged documents to obtain N1.5 billion (N1,464,961,978.24) from the federal government under the oil subsidy scheme.

In one of the counts, the EFCC ...