Oil on water: EFCC names suspects for trial over fuel subsidy fraud

by Isi Esene

Seven companies and twelve individuals have been lined up for prosecution by the Economic and Financial Crimes Commission (EFCC) over matters relating to their alleged involvement in the mismanagement of the fuel subsidy regime of 2011.

The seven companies are Nasaman Oil Services; Eternal Oil and Gas Plc; Ontario Oil & Gas Plc; Nadabo Energy Limited; Pacific Silver Line Limited; Axenergy Limited, and Fago Petroleum and Gas Limited.

The individuals who are manly made up of businessmen according to SaharaReporters are: Mamman Nasir Ali; Christian Taylor; Mahmud Tukur; Ochonogor Alex; Adaoha Ugo-Ngadi; Fakuade Babafemi Ebenezer; Ezekiel Olaleye Ejidele; Abubakar Ali Peters; Jude Agube Abalaka,  Abdulahi Alao and Oluwaseun Ogunbanbo.

Most of the organisations and individuals are to be prosecuted on charges of obtaining money from the Federal Government of Nigeria under false pretenses.

Considering their association with Nasaman Oil Services, Mamman Nasir Ali and Christian Taylor will go on trial for allegedly fraudulently obtaining the sum of N4.46bn from the FGN under false pretense. This amount was supposed to have been used for the importation of 30.5mn litres of Premium Motor Spirit (Petrol) from SEATAC Petroleum Limited of British Virgin Islands.

Similarly, Abdulahi Alao of Axenergy Limited is expected to be arraigned for allegedly obtaining the sum of N2.64bn for the importation of 33.3mn litres of PMS.

Other indicted individuals are Mahmud Tukur, Ochonogor Alex, Abdulahi Alao, with Eternal Oil And Gas Plc. for obtaining N1.90bn for importing 80.3mn of PMS.

Nadabo Energy Limited with Abubakar Ali Peters, Jude Agube Abalaka, and Pacific Silver Line Limited are in the EFCC list with the charge of allegedly obtaining N1.46bn to their name. They are also accused of fraudulently receiving the said amount purportedly to import 19.4mn litres of PMS.

Adaoha Ugo-Ngadi, Fakuade Babafemi Ebenezer, Ezekiel Olaleye Ejidele, and Ontario Oil & Gas Nigeria Limited will be arraigned for obtaining of N1.95bn, while Fago Petroleum and Gas Limited and Oluwaseun Ogunbanbo are to be docked for fraudulently allegedly obtaining approximately N979mn from the FGN.

Both oil concerns were supposed to have imported 39.2m and 33.6 litres of PMS respectively.

According to SaharaReporters, these group are just the first batch of about 140 individuals and organisations being investigated for fraudulent practices in the fuel subsidy regime which has caused widespread outcry across the country with observers accusing the president of reluctance in trying the companies implicated in the Farouk Lawan committee report.

The commission says it “wishes to reassure Nigerians that every effort will be made to bring all those who defrauded the country in the guise of subsidy for imported fuel to book”.

The ball has been set rolling but no-one knows where it will rest on the dangerous political slope, only time will tell.

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