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Fuel Subsidy Fraud: Five Fresh Suspects Arraigned In Lagos High Court… Judge Grants Bail To All Five Over EFCC Objections

Arisekola's son,  Abdulahi Alao also freed on Bail
The Economic and Financial Crimes Commission (EFCC), on Wednesday, Aug. 1, arraigned five fresh suspects implicated in the fuel subsidy scam.


Arisekola's son,  Abdulahi Alao also freed on Bail

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The Economic and Financial Crimes Commission (EFCC), on Wednesday, Aug. 1, arraigned five fresh suspects implicated in the fuel subsidy scam.

The five suspects - Walter Wagbatsoma, Adaoha Ugo-Ngadi;  Fakuade Babafemi Ebenezer;  Ezekiel Olaleye Ejidele and Ontario Oil and Gas Nigeria Limited - have been charged with obtaining property by false pretences, altering, forgery and conspiracy.

 
The case had been scheduled for a hearing last month by the Lagos High Court but was postponed due to the failure to appear of Wagbatsoma. All five defendants have pleaded not guilty.
 
EFCC Counsel Rotimi Jacobs who pointed out that all the accused persons were influential members of the public who may tamper with investigations and flee the country and jump bail, opposed bail applications for the five

Specifically, granting bail to Wagbatsoma based on self-recognition was not tenable because the defendant had already fled the country to evade arrest upon learning about the charges filed against him. He said all efforts to get him arrested proved abortive and he also refused to present himself before the EFCC when he was invited.
 
Charges were first filed against Wagbatsoma on July 20, 2012, noted Jacobs, but he claimed to have travelled out of the country on June 17, 2012, returning to the country on July 3, 2012 only to take off again on July 20 when he got wind of a charge filed against him before the court. “A letter was received by the EFCC from the defendant's company, Ontario Oil and Gas Nigeria Limited that he was out of the country for medical check up and will be available the moment he returned to the country. But that letter was dated 18th July, 2012. So he was still very much in the country. These are some accounts of the deceit he employed to confirm that he was evading arrest. Up till now, we have not been able to obtain his statement. He left Abuja for France by 9pm on the 20th July, 2012 having got wind of this”, Jacob said.
 
Despite these incontrovertible facts, Justice Abiru, granted all the accused persons bail.
 
 The first defendant (together with Ontario Oil & Gas Nigeria Limited) received bail in the sum of One hundred and fifty million naira ( N150, 000,000.00), and  three sureties in like sum; two of whom must have landed properties in Lagos and must all be resident in Lagos . Bail was also granted the second defendant in the sum of One hundred million naira (N100, 000, 000.00) and two sureties in like sum, one of whom must have landed property in Lagos and must all be resident in the state.
 
Justice Abiru subsequently adjourned the case till 24th October, 6th, 7th and 8th November, 2012 for commencement of trial.
 
Meanwhile, in a related development,  a Lagos State High court sitting in Ikeja before Justice Habeeb Abiru granted Abdullahi  Alao and Axenergy  Ltd bail in the sum of N100,000,000.00 (One hundred million naira) and two sureties in like sum. Alao was docked by the Economic and Financial Crimes Commission, EFCC, last week over his involvement in the fuel subsidy scam.
 
 Specifically, Alao, the managing director of Axenergy Limited was docked on a seven count charge bordering on conspiracy to obtain money by false pretences contrary to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.  The accused , together with his company, Axenergy Limited allegedly obtained the sum of N2,640, 141, 707.75 ( Two Billion, Six Hundred and Forty Million; One Hundred and Forty One Thousand; Seven Hundred and Seven Naira, Seventy Five Kobo only) being payments obtained from the Petroleum Support Fund for the purported importation of 33.3 million litres of  Premium Motor Spirit.
 

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