Oil subsidy fraud efcc re arraigns 5 suspects
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EFCC Rearraigns 5 Suspects in Oil Subsidy Fraud
The Economic and Financial Crimes Commission (EFCC) has re-arraigned five suspects in a case of oil subsidy fraud before a Federal High Court in Lagos. The suspects, who are alleged to have defrauded the Federal Government of N1.4 billion, were initially arraigned in 2013 but their trial was stalled due to various reasons.
The suspects, who are:
- Victor Briggs, a former Managing Director of the Petroleum Products Pricing Regulatory Agency (PPPRA)
- Abiodun Agbeyegbe, a former Director of Finance at PPPRA
- Ayodele Adeyemi, a former Director of Operations at PPPRA
- Akinola Ogunnubi, a former Director of Finance at the Nigerian National Petroleum Corporation (NNPC)
- Adesola Olubode, a former Director of Finance at the Nigerian National Petroleum Corporation (NNPC)
are facing a 14-count charge of conspiracy, forgery, and stealing.
The EFCC alleged that the suspects, while working at PPPRA and NNPC, conspired to fraudulently allocate and sell petroleum products at inflated prices, thereby causing a loss of N1.4 billion to the Federal Government.
The prosecution told the court that the suspects, between 2011 and 2012, forged documents, including invoices and receipts, to facilitate the fraudulent allocation and sale of petroleum products.
The EFCC also alleged that the suspects used the proceeds of the fraud to buy properties and invest in other businesses.
The suspects have pleaded not guilty to the charges and the trial has been adjourned to a later date.
This case is another example of the EFCC's efforts to combat corruption and fraud in the oil and gas sector, which has been plagued by allegations of corruption and mismanagement.