₦airaland Forum

Buhari failed this nation. Looting and opening doors for looters.

The Economic and Financial Crimes Commission has declared the Managing Director of Fargo Petroleum and Gas Limited, Seun Ogunbambo, wanted for allegedly defrauding the Federal Government of N976.65 million through bogus oil subsidy claims.

The EFCC made the announcement in a public notice issued on Friday, describing Ogunbambo as a fugitive from justice after he reportedly jumped bail and disappeared while standing trial before a Lagos State High Court.

According to the notice signed by the Head of Media and Publicity for the commission, Dele Oyewale, Ogunbambo was facing prosecution alongside co-defendants, Mamman Ali and Christian Taylor, who were convicted and sentenced to 14 years imprisonment each by the court on Tuesday, May 27, 2025, for their roles in the scam.

“The suspect vanished after being granted bail and has since failed to appear in court,” the EFCC said, warning the public against shielding him.

The alleged subsidy scam involves N976,653,110,28, which the EFCC said was fraudulently claimed as payment for petroleum products that were never delivered.

Ogunbambo, described as light complexioned and fluent in both English and Yoruba, was said to have last been traced to 2, Olamijuyuan Crescent, Ikoyi, Lagos.

The commission called on anyone with information about his whereabouts to report to its offices in Lagos, Enugu, Kano, Gombe, Port Harcourt, Ibadan, Benin, Kaduna, Sokoto, Makurdi, Ilorin, Maiduguri, Uyo or Abuja.

https://punchng-com.cdn.ampproject.org/v/s/punchng.com/n976bn-subsidy-fraud-efcc-declares-oil-firm-boss-wanted/?amp_js_v=a6&amp_gsa=1&amp#referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fpunchng.com%2Fn976bn-subsidy-fraud-efcc-declares-oil-firm-boss-wanted%2F

What about those that are in the present government when will efcc go after them

Good. Go after criminals and stop taxing citizens to death!

Why are we Nigerians like this, put a Nigerian in any position of power,they will loot as if there is another world they will spend their loot when they kpai

Na wa o

Who are dey deceiving, dem do pass this during yeye bello and waiting end am. Mtcheeeeeew

It willl be the turn of Tinubu followers very soon and what they would have looted will be more than what was gone in Abacha time you will see and the fools will be silent as the fools they are then

They play. Always declared wanted. He can be track if you guys serious.

Exousiang01:
I know a few others who made a fortune out of the subsidy.
A personal friend is involved in this, funny he is a strong Obidient, actually he is one of their biggest sponsors

While I was struggling to bring in my first Mud Loging Unit many years ago, dude didn't care about anything of such.

Today he is struggling to adjust to life without subsidy money

Nor be only obidient 🤣
Orhue..............

Ironfaceman:
The alleged subsidy scam involves N976,653,110,28, which the EFCC said was fraudulently claimed as payment for petroleum products that were never delivered.

Was the subsidy paid after 2016?

Or it was paid before that time?

Subsidy removal: Tinubu backs Buhari, Falana condemns price hike

13th May 2016

A former Lagos State Governor and National Leader of the All Progressives Congress, Asiwaju Bola Tinubu, has described the decision of the President Buhari-led Federal Government to remove petrol subsidy as courageous.

The government, through the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Wednesday, announced the removal of the subsidy on petrol,pegging the upper limit at N145 per litre from N86.50k.

In a statement in Lagos on Thursday, Tinubu said though the decision was a difficult one, it would ultimately become beneficial to the generality of the people instead of enriching the pockets of a few Nigerians, who enjoyed the fraud of the subsidy regime.

https://punchng.com/subsidy-removal-tinubu-backs-buhari-falana-condemns-price-hike/?amp

Maybe the money is in Wells and Fargo bank.

Lol this one no go dey Nigeria like this

I believe we should grow beyond this, once we have improved Security IT infrastructure, all these would reduce

Hmmm
............
No

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Comment

I never see country wey sweet like naija. Dem go still blame tinubu again.

First thing that flashed in my mind, he probably has gone through Lagos Ceme route disguised as another person who know if he has crossed the Atlantic by now May is far away...

inoki247:
Lol this one no go dey Nigeria like this

oluwaseunamos33:
Who are dey deceiving, dem do pass this during yeye bello and waiting end am. Mtcheeeeeew

Yeye Bello has obviously mended his relationship with the hierarchy of Oshiomhole’s Association of Past Crooks, APC and his sins are forgiven again.




https://www.youtube.com/watch?v=qg_1mly5Gm8?si=GZ106iOiZV8ETjWq

chisomkachy:
The Economic and Financial Crimes Commission (EFCC) has withdrawn the alleged money laundering suit it filed at the Federal High Court against Lagos Speaker Mudashiru Ajayi Obasa.

Naija News understands that the anti-graft did not give any particular reason for its application for withdrawal.

Following the application to withdraw, Justice Nicholas Oweibo discharged the ‘lien/Post No Debit’ placed on Obasa’s three accounts in Standard Chartered Bank.

The accounts are (US Dollars) 0001852063; (Current) 0001852056 and (Saving) 5002309624.

The judge also set aside the ex-parte orders he made on September 15, 2020, which led to the freezing of the accounts.

Recall that the court on September 15, 2020, granted an interim order freezing Obasa’s accounts following the EFCC’s application in a suit marked FHC/LCS/1064/2020.

The agency had said it was investigating the Speaker for the alleged offences of conspiracy, diversion of funds, abuse of office and money laundering.

But Justice Oweibo, on August 16, 2023, heard the application to unfreeze the accounts in his chamber.

During the hearing, the EFCC was represented by Mr. Sulaiman I. Sulaiman, while Obasa was represented by Mr. Adeyinka Olumide-Fusika (SAN).

The EFCC lawyer told the court that the application to unfreeze the accounts was pursuant to Section 44(2)(K) of the 1999 Constitution (as amended) and Sections 26, 29 and 34 (1) of the EFCC (Establishment) Act, 2004, and under the court’s inherent jurisdiction.

Section 44 of the Constitution concerns constitutional rights to property.

Justice Oweibo held: “It is hereby ordered that an order is hereby granted to the respondent/applicant setting aside the ex-parte orders of this court made on the 15th day of September 2020 upon the ex-parte motion of the Applicant/ Respondent in relation the funds of the Respondent/Applicant domiciled in the accounts stated in the following schedule:

“ACCOUNT NAME, FINANCIAL ACCOUNT INSTITUTIONS, TYPE OF ACCOUNT, 1. Mudasiru Ajayi Obasa, Standard Chartered, (US Dollars) 0001852063 2. Mudasiru Ajayi Obasa, Standard Chartered (Current) 0001852056 3. Mudashiru Ajayi Obasa, Standard Chartered (Saving) 5002309624.

“Issued at Lagos, under the seal of this Honourable Court and by the hands of the Presiding Judge this 16th day of August 2023.”

https://dailytimesng.com/obasa-efcc-withdraws-suit/

Previous Threads:
https://www.nairaland.com/5877642/obasa-64-bank-accounts-linked#89878603

https://wap.nairaland.com/6167844/lagos-assembly-speaker-obasa-efcc#94728150

https://www.nairaland.com/6168612/obasa-court-orders-efcc-freeze#94741534

Raypawer:
First thing that flashed in my mind, he has gone through the boarders disguised as another person but might be nearby maybe Togo or Benin Republic or who knows if he has crossed the Atlantic by now May is far away...

He go dey chill with him Malta Passport like this

I hope there are no stealings presently going on in this government under hush..

What they stole is approximately a billion.
Knowing the fact that they will serve 14 years in prison after their return from bail, their village people will call them foolish if they return back to that court and honor their 14 year sentences.
By now I don’t expect them and the billions stolen to still remain in this country

This subsidy scammers really did the country dirty. And they were all supported by civil servants and politicians.
The theft was mind bugling.

OredoPikin:
Nor be only obidient 🤣
Orhue..............

By your standards, obedients are no regular Nigerians now!

Put a bounty on his head and I promise you, he'll surrender himself to your office.... No jst dey waste wanted posters up and down

I don't know why grant this prick bail when he is clearly a flight risk.

anonimi:
Was the subsidy paid after 2016?

Or it was paid before that time?

Well, the case dates back from before 2016

Here is a report from 2014...

Uwujaren, at the regular parley arranged to highlight activities of the various security and response agencies, announced that one Seun Ogunbambo, managing director of Fargo Energy Limited, who was docked for stealing N4.5 billion in bogus subsidy claims had absconded after he was granted bail by the court but had been declared wanted by the commission

Daily Post, November 5, 2014.


I am also annoyed it took EFCC so long...typical government organisation.

At least your party was prosecuting subsidy fraud claims ...if you wan campaign for here.

I believe he belongs to the other side of the government.

Who knows, he might be running towards your master camp

Everybody is walking his or her way to loot this country empty.

JAOS:
What about those that are in the present government when will efcc go after them

u haven’t finished the old bag of rice, u are asking for a new bag?

phemmie06:
I believe he belongs to the other side of the government.

Who knows, he might be running towards your master camp

make u enter government wahala then make u go tell them say u be member of the APC, make them take u do public example of cluelessness.

Even of them see am or catch am....nothing go stil happen. All will be settle at the back gate

favor914:
u haven’t finished the old bag of rice, u are asking for a new bag?

Even then, it's a valid quesiton. EFCC should go after all criminals...not just the past ones and ignore the looting in the present.

yommen:
By your standards, obedients are no regular Nigerians now!

Is the insertion of Obidient even necessary in that comment?