Dubai police have issued an arrest warrant for Abdulrahman Bashar, a Nigerian billionaire who controls the Rahamaniyya Group of Companies, following his conviction for financial crimes. The charges stem from the dishonouring of cheques related to a business dispute with CE Energy DMCC, a Dubai-based commodities trading company.
Between April and August 2024, Bashar’s company, Ultimate Oil & Gas DMCC, issued nine cheques for gas oil and Jet A1 payments to CE Energy. However, Emirates Islamic Bank, where Bashar held an account, honoured only one cheque, and the remaining eight were returned due to irregular signatures. Bashar has denied any wrongdoing, claiming the signatures were not irregular.
CE Energy filed a criminal complaint, accusing Bashar of issuing dud cheques, which is a criminal offence under UAE law. Following an investigation, Dubai authorities issued an arrest warrant for Bashar. A UK High Court ruling confirmed the worldwide freezing order against Bashar’s assets, and he was subsequently sentenced to one year in prison on January 30, 2025.
Bashar, 48, has remained in Nigeria throughout the investigation and trial but maintains he will appeal the judgment. The arrest warrant against him remains active, and he could face jail time unless his appeal succeeds. Bashar’s businesses, including Rahamaniyya Group, trade and distribute African crude and oil products, from which he has amassed considerable wealth.
