EFCC Arraigns Three Foreigners, Vessel Over Alleged N12bn Oil Theft

The Economic and Financial Crimes Commission (EFCC) on Wednesday October 29, 2025 arraigned a vessel, MT Ostria, and three individuals before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, over allegations of petroleum theft involving over 13 million litres of Premium Motor Spirit (PMS) belonging to NNPC Retail Limited.

The defendants, Captain Raymundo A. Panaligam, Chief Officer Roneno Villarin, who were officials of the vessel was charged alongside Mr. Vincent Wayas, a staff of GMO, an inspectorate firm representing the NNPC.

The defendants are facing a four-count charge bordering on conspiracy and stealing.

According to the charge, the defendants conspired to steal Thirteen Million, Three Hundred and Fifty Four thousand) 13, 324,000 litres of PMS, offences said to be contrary to Sections 411 and 280 of the Criminal Law of Lagos State, 2015, and punishable under Section 287 of the same law.

One of the counts reads:

“MT Ostria, Captain Raymundo A. Panaligam, Chief Officer Roneno Villarin and Mr. Vincent Wayas sometime in January 2024 in Lagos, within the jurisdiction of this honourable court, conspired amongst yourselves to commit felony, to wit: stealing of Thirteen Million, Five Hundred and Fifty Four Thousand (13,354,000) litres of Premium Motor Spirit, property of NNPC Retail Limited.”

Another count reads:

“MT OSTRIA, CAPTAIN RAYMUNDO A. PANALIGAM,CHIEF OFFICER RONENO VILLARI and MR. VINCENT WAYAS on or about 17th January 2024 in Lagos, within the jurisdiction of this Honourable Court dishonestly took (Nine Milllon) 9,000,000.00 litres of Premium Motor Spirit Property of NNPC Retall Limited”.

EFCC alleged that the defendants, dishonestly took 9,000,000 litres of PMS belonging to NNPC Retail Limited, while a separate count accuses them of stealing an additional 3,000,000 litres of the same product.

All defendants pleaded Not Guilty to the charges.

Following their plea, the prosecuting counsel, Bilikisu Buhari, prayed the court to remand all the defendants in correctional facility pending commencement of their trial.

The EFCC counsel further argued that the applicant is a flight risk, that the defendants have noting to lose if jumps bail or absconded as she prayed the court to declined their bail while further asked the court to set a trial date.

But, the defence teams informed the court that bail applications had already been filed and urged that the defendants be allowed to continue under the bail conditions earlier granted by the EFCC because they had not default on the the terms of administrative bail granted them by the anti-graft agency.

Justice Dada ruled that the defendants should continue on the existing EFCC bail conditions and subsequently adjourned the case to November 17 and 27, 2025, for the commencement of trial.