EFCC Declares Fargo Petroleum Boss, Seun Ogunbambo Wanted Over N1bn Oil Scam

The Economic and Financial Crimes Commission (EFCC) has declared Oluwaseun Olubukola Ogunbambo, the Managing Director of Fargo Petroleum and Gas Limited, wanted for allegedly defrauding the Federal Government of Nigeria in a high-profile oil subsidy scam totaling nearly N1 billion.

According to an official bulletin released by the EFCC, Ogunbambo is accused of fraudulently claiming N976,653,110.28 (Nine Hundred and Seventy-Six Million, Six Hundred and Fifty-Three Thousand, One Hundred and Ten Naira, Twenty-Eight Kobo) under the fuel subsidy programme, using fictitious importation claims.

Ogunbambo, who was standing trial before a Lagos State High Court, reportedly jumped bail and disappeared before the conclusion of his trial.

His co-accused, Mamman Nasir Ali and Christian Taylor, were convicted and sentenced to 14 years in prison each on Tuesday, May 27, 2025.

Described as light-complexioned and fluent in both English and Yoruba, Ogunbambo’s last known address is 2 Olamiyuyan Crescent, Ikoyi, Lagos.

The EFCC has urged the public to provide any useful information about his whereabouts.

Information can be directed to EFCC offices across the country — in Lagos, Enugu, Kano, Gombe, Port Harcourt, Ibadan, Benin, Kaduna, Sokoto, Makurdi, Ilorin, Maiduguri, Uyo, and Abuja — or via the agency’s hotline: +2348093322644, or by email: info@efcc.gov.ng.

The notice, signed by Dele Oyewale, Head of Media & Publicity for the EFCC, emphasized the urgency of apprehending Ogunbambo to face justice for his role in the multi-billion naira oil scam.