THE Economic and Financial Crimes Commission, EFCC, yesterday, arraigned two oil marketers, Messrs Yusuf Kwande and Osahon Asemota, in an Ikeja Special Offences Court for allegedly stealing 6.4 million metric tonnes of Automated Gas Oil, AGO, worth $8.4million.

The Acting Chairman, Economic and Financial Crimes Commission (EFCC) Ibrahim Magu

Messrs Kwande and Asemota were arraigned with an international oil and gas company – Trafigura Beheer BV, Trafigura PTE Ltd and their Nigerian associates- Mettle Energy and Gas, Renbrandt Ltd. and Jil Engineering and Oil Services Limited.

They, however, pleaded not guilty to the three-count charge of conspiracy, stealing and receiving stolen property proffered against them by the EFCC.

The EFCC accused the defendants of fraudulently converting the AGO at the office of Trafigura Beheer BV located at 20A Sinaro Daranijo Street, off Ligali Ayorinde Street, Victoria Island, Lagos.

The lead EFCC prosecution counsel, Mr. Rotimi Jacobs, SAN, said the defendants committed the offences of stealing between October 22, 2008 and December 15, 2008.

Mr Jacobs said the stolen AGO, worth $8.4 million, was the property of Nadabo Energy Limited and was kept in the legal custody of the now defunct Spring Bank on Victoria Island. Following the defendant’s not guilty plea, counsel to the defendants sought to move their bail applications.

But Mr Jacobs informed the court that three of the prosecution witnesses were present in court. He requested that the trial begin immediately.