A Dubai court has sentenced Nigerian billionaire businessman Abdulrahman Bashar, owner of Rahmaniya Group and Ultimate Oil & Gas, to one year in prison over financial misconduct involving CI Energy Company.
The ruling, delivered on 30 January 2025, marks his second jail term in less than five years, following a 10-month imprisonment declared by a UK court in 2020.
Court Finds Bashar Guilty of Fraudulent Cheque Issuance
According to court documents obtained by PREMIUM TIMES, the UAE public prosecution charged the 48-year-old businessman with issuing seven cheques amounting to 126.45 million dirhams from an Emirates Islamic Bank account with a mismatched signature. Despite being notified of the proceedings, Bashar failed to appear in court for trial.
The prosecution contended that Bashar deliberately issued the cheques in a manner that rendered them invalid for cashing. The court, relying on substantial evidence including witness statements, cheque duplicates, and account records, confirmed that the cheques were returned unpaid due to signature discrepancies.
“It is established that the crime of issuing a cheque is realised merely by giving the cheque to the beneficiary knowing that there is no balance available for withdrawal,” the court ruled, with Judge Hussein Hamdi presiding.
The defence attempted to challenge the evidence, but the court rejected Bashar’s claims, deeming his denial a strategic move to evade punishment. To prevent delays, the court referred the prosecution’s compensation claim to a civil court for further adjudication.
Previous Conviction in the United Kingdom
Bashar had previously faced legal consequences in the UK, where Justice Butcher of the England and Wales High Court sentenced him in February 2020 for breaching court orders in a case filed by Sahara Energy Resources.
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“The basis of the sentence was that Mr. Bashar had committed continuing breaches of the order of Mr. Justice Robin Knowles of 1 August 2019 and of the order of Mr. Justice Bryan of 6 September 2019,” Justice Butcher stated.
The UK court orders required Rahmaniya Oil and Gas to fulfil a supply request for 6,400.49 metric tonnes of gas oil. However, Bashar failed to comply, obstructing the release of the fuel. Consequently, the UK court imposed a £500,000 fine on Rahmaniya, while company manager Adebowale Aderemi was fined £10,000.
Business Operations and International Footprint
Abdulrahman Bashar is a prominent figure in the oil and gas industry, serving as the chairman of Ultimate Oil and Gas DMCC and CEO of Rahmaniya Group. His business empire spans Africa, Europe, South Asia, and the Middle East. However, his legal troubles raise significant concerns over financial integrity and corporate governance within his operations.
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The latest ruling underscores the growing scrutiny on financial crimes involving high-profile business figures, particularly those operating across multiple jurisdictions.