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Oil dealer docked over alleged N42m fraud

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Oil dealer docked over alleged N42m fraud

A 42-year-old oil dealer, Joshua Momodu, who allegedly obtained N42 million under the guise of delivering 20,000 litres of diesel, was, on Monday, arraigned before an Igbosere Magistrates’ Court, Lagos.

Momodu, whose residential address was not given, is standing trial on a five-count charge of fraud and stealing.

The Prosecutor, SP. J. I. Enang, told the court that the defendant and others still at large, committed the offences sometimes in August 2019, in Lagos.

Enang said that the defendant fraudulently obtained N42 million from the complainant, Adeeman Nigeria Limited, on the pretext of delivering 20,000 litres of NNPC-approved Automated Gas Oil (AGO, popularly known as diesel.

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“Momodu forged the customs’ documents, which included contract paper with NNPC and Shell/AGIP logos on it, with the intent that they would be acted upon as genuine.

“The defendant knew that the representation he made to the complainant was false.

“He obtained the said money, did not deliver the AGO and did not pay back the money,” Enang further told the court.

He said that the offences contravened Sections 285, 314, 363, 370 and 411 of the Criminal Law of Lagos, 2015.

The defendant, however, pleaded not guilty to the charges preferred against him.

The Defence Counsel, Mr Abdullahi Dania, urged the court to grant his client bail on liberal terms.

In his ruling, the Magistrate, Mr A. O. Alogba, granted the defendant bail in the sum of N500,000, with two sureties in like sum.

He said that the sureties must be gainfully employed and must show evidence of tax payments to the Lagos State government.

Alogba, thereafter, adjourned the case till Feb. 18, for mention.

Vanguard Nigeria News

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