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Fuel subsidy fraud:Two more Oil marketers arrested

Two more indicted oil marketers were on Monday arraigned by the Economic and Financial Crimes Commission (EFCC) before a Lagos Court sitting in Ikeja. Oluwaseun Ogunbambo, Habila Theck and Fargo petroleum and Gas Limited.

Olugbenga Adesanya, was not arrested alongside others because he is still yet to be seen.

They were arraigned on a six- count charge bordering on conspiracy, obtaining money by false pretence, forgery and the use of false documents. One of the prosecuting counsel has applied to the court to drop one of the charges. It was initially a seven-count charge.

Oil subsidy  Fraud Theck

The anti-graft agency also alleged that the defendants and the oil company  “on or about February 10, 2012, with intent to defraud, conspired  to fraudulently obtain N976,653,110.28  from the Federal Government of Nigeria by falsely representing that the said sum represented subsidy accruing on importation of 13,627,084 litres of Premium Motor Spirit(PMS) purportedly purchased from Sealac Petroleum Limited and imported into Nigeria through MT Diplomat Ex mT Milleura, which representation they knew to be false.”

The defendants, however, pleaded not guilty to each of the six-count charge and their counsel, Mr Babajide Koku (SAN), applied to the court  for bail. He said his application was  dated July 25, 2012 and was forwarded to the court last week while a new one was filed on Monday morning.Koku applied for the application for bail dated July 25, 2012 to  be struck out and substituted with the new application, adding that the new application was informed by the need to react to the counter affidavit of the prosecution which opposed bail for the first defendant.

The prosecution team, led by Mr Rotimi Jacobs(SAN), told the court that they would have moved its application but that the team needed time to react to some fundamental issues raised in the new application of the defence served on it that morning.

Consequently, the defence  asked for a short adjournment to enable  parties to react to all applications before the court, a request the prosecution concurred with.Justice Onigbanjo granted the request of the defence and adjourned the matter till tomorrow, August 1, 2012 for argument of bail application






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