Subsidy Fraud: Court Denies Ogunbambo Bail

07 Dec 2012

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EFCC Chairman, Ibrahim Lamorde

Akinwale Akintunde

Justice Adeniyi Onigbanjo of an Ikeja High Court Thursday denied bail to an oil marketer, Mr. Oluwaseun Ogunbambo, who is facing trial for his involvement in a fraud allegations preferred against him by the Economic and Financial Crimes Commission (EFCC).

Ogunbambo was denied bail on the basis of multiple criminal charges preferred against him by EFCC.

Justice Onigbanjo ordered the defendant to remain in custody pending his trial over a N4.46billion subsidy fraud against him alongside Mamman, son of former Chairman of the Peoples Democratic Party (PDP), Ahmadu Ali.

The judge had earlier on August 1, 2012 denied the defendant bail based on the same reasons after he was initially arraigned along with his firm, Fargo Petroleum and Gas Ltd and the Deputy Managing Director of the company, Habila Theck, for N976.6 million subsidy fraud.
In his short ruling, Justice Onigbanjo said he was not inclined to grant the defendant bail given the huge amount involved in the charges.

Meanwhile, at the resumed trial of Ogunbambo, Habila Theck and Fargo Petroleum & Gas Ltd for N976.6m fraud yesterday, the court admitted as exhibits letters written by Mr. Dino Melaye, civil society groups and as well as Minister of Petroleum Resources, Alison Madueke despite opposition from the defence counsel.

Other documents tendered by the commission include letters of invitation written to the Corporate Affairs Commission, Petroleum Product Pricing and Regulatory Agency (PPPRA), Sterling Bank Plc and Cornerstone Insurance in the course of investigating the alleged fraud.

Bawa, a Senior Detective Superintendent with the EFCC also told the court that his commission wasn’t able to dispatch letters meant for the Nigeria Customs Service owing to the fact that it contact person has been indisposed for a while.

The case was adjourned till January 27, 2013 for the continuation of Bawa’s testimony.

Tags: News, Nigeria, Featured, SUBSIDY, Fraud, Bail

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