News

April 11, 2014

N979.6m subsidy fraud: Suspect escapes trial

N979.6m subsidy fraud: Suspect escapes trial

BY WAHAB ABDULAH

LAGOS—AN Ikeja High Court presided over by Justice Adeniyi Onigbanjo was yesterday told that  an oil marketer, Oluwaseun Ogunbambo, who is being prosecuted over an alleged N979.6 million subsidy fraud, has fled to Canada.

EFCC21This was disclosed by the Economic and Financial Crimes Commission, EFCC, through Mr Emmanuel Jackson, who represented the agency in court.

The suspect, Ogunbambo and another oil marketer, Habila Theck are standing trial alongside their firm – Fargo Energy Ltd.

The trial judge, Justice Onigbanjo had on February 10,2014 issued a bench warrant against him after he failed to appear before the court for the continuation of his trial.

His counsel, Mr Raphael Oluyede however, in an application dated February 11,2014, urged the court to stay execution of the bench warrant and also to restrain the EFCC from arresting him.

Oluyede said this was pending the hearing and determination of Ogunbambo’s appeal against the bench warrant which had been filed before the Court of Appeal, Lagos.

According to him, Ogunbambo was absent from court due to an injury he sustained recently when he was attacked by some unknown gunmen.

Opposing the application, Jackson said the EFCC had not been able to execute the bench warrant as ordered by the court.