Fuel Subsidy Fraud: 3 Oil Tycoons Bag 8 Years Jail Terms

MICHAEL AKINOLA

Justice Lateefat Okunnu of the Lagos State High Court sitting in Ikeja, Lagos, Tuesday convicted and sentenced three oil marketers, Adamu Maula, George Ogbonna and Emmanuel Morah to eight years in prison each over their involvement in N789.6million oil fraud.

Their conviction was based on a 26-count amended charge of conspiracy, obtaining by false pretence and forgery to the tune of N789.6million preferred against them by the Economic and Financial Crimes Commission (EFCC).

Maula and his co-convicts were prosecuted alongside their firms, Downstream Energy Sources Limited and Rocky Energy Limited.

The convicts allegedly imported 10, 862 metric tonnes of Premium Motor Spirit, (PMS), for which they were paid by the Petroleum Support Fund (PSF).

According to EFCC’s spokesman, Samin Amaddin, investigations later revealed that the documents used were forged.

Counsels to the defendants, in separate no-case submissions, had urged the Court to dismiss the charge against their clients for lack of merit.

The prosecution counsel, Rotimi Jacobs, SAN, however presented 11 witnesses, including Abdulrasheed Bawa, an investigator with the EFCC, and tendered documents in evidence.

In his judgment on January 26, Justice Okunnu sentenced the defendants to eight years imprisonment each.

The judge also ordered the convicts to return the money they fraudulently collected to the Federal Government.

Their companies were, however, discharged and acquitted by the Court.