In keeping with the Federal Government’s promise to prosecute those that were alleged to have abused the fuel subsidy scheme, the Economic and Financial Crimes Commission (EFCC) will finally set the stage for the arraignment of oil-marketing firms and their directors at the Lagos High Court today.

Some of the suspects are scions of chieftains of the Peoples Democratic Party (PDP) and party supporters.


EFCC’s disclosure confirmed THISDAY exclusive story yesterday on the plan to arraign the suspects the same day.
However, THISDAY checks revealed that the suspects could not be arraigned as planned due to logistic problems on the part of the prosecution that are being addressed preparatory to the arraignment of some of them in Lagos today.


The 12 individuals involved in the scam are: Mamman Nasir Ali, Christian Taylor, Mahmud Tukur, Ochonogor Alex, Walter Wagbatsoma, Adaoha Ugo-Ngadi, Fakuade Babafemi Ebenezer, Ezekiel Olaleye Ejidele, Abubakar Ali Peters, Jude Agube Abalaka, Abdullahi Alao and Oluwaseun Ogunbanbo.

Mamman Nasir Ali, who runs Nasaman Oil Services, is the son of former PDP National Chairman, Col. Ahmadu Ali (rtd), who was also the chairman of the Petroleum Products Pricing and Regulating Agency (PPPRA) board.

Mahmud Tukur, who runs Eterna Oil and Gas Plc, is the son of the current PDP National Chairman, Alhaji Bamanga Tukur, while Abdullahi Alao of Axenergy Limited is the son of popular Ibadan-based tycoon, Alhaji Abdulazeez Arisekola-Alao.


Ugo-Ngadi, on her part, is the Managing Director of Ontario Oil and Gas Plc, where its founder, Wagbatsoma, is the executive vice-chairman.

But whilst the individuals were identified as directors of the oil-marketing firms, Ejidele is a director of the accounting firm, Akintola Williams Deloitte, while Ebenezer is a member of staff of PPPRA.
Also, some of the suspects such as Alao may be tried twice for allegedly conniving with different companies to defraud the government.


According to a statement from EFCC spokesman Wilson Uwujaren, Nasaman Oil Services; Ali and Taylor are to face charges bordering on obtaining N4,460,130,797.94 from the Federal Government under false pretences.

The sum was alleged to have been fraudulently obtained as subsidy payments from the Petroleum Support Fund (PSF) for the purported importation of 30.5 million litres of petrol from SEATAC Petroleum Limited of British Virgin Islands.


Also, Alao and Axenergy Limited will be tried for allegedly obtaining by fraud N2,640,141,707.75 from the government, being payments received from the PSF for the purported importation of 33.3 million litres of petrol.

Others, including Tukur, Alex, Alao and Eterna Oil and Gas Plc, will be arraigned for fraudulently obtaining N1,899,238,946.02 from the PSF for the purported importation of 80.3 million litres of petrol.
Full story:
www.thisdaylive.com/articles/subsidy-fraud-efcc-to-prosecute-23-oil-marketers/120779/

Some serious dose of Fresh Air here, no wonder Nigerians are quiet!

*make i look my side, before i enter this one o* before the further english teachers in NL come catch me here, cos the last comment i made on Tunde Bakare and the SSS issue is still in the lab', but its a pity that 80% of the peeps dt tried to correct me end up with greater grammatical blunders.... I see God helping us... Amen...!
As for the those guys involved in the oil ish, i can't blame them too much, cos if i'm in their shoes, i will do the same, this is Nigeria for God sake, if you don't do it, someone else will, abegi...

wesley80:
But whilst the individuals were identified as directors of the oil- marketing firms, Ejidele is a director of the accounting firm, Akintola Williams Deloitte, while Ebenezer is a member of staff of PPPRA.

This is the part I was most impressed with. A Director at Deloitte? About time someone called these auditing firms to other, they've been doing this with impunity without wavering patronage from all organizations even when most know their opinion Isnt worth more than the accompanying stamp. Hope ICAN gets the message and steps up its regulation.

you see why we say. the people ruling nigeria are clueless.