Subsidy Scam: EFCC Arraigns Three More Suspects

The trial of persons and organisations indicted in the mindless abuse of the Petroleum Support Fund in the guise of subsidy for imported fuel continued today, July 30, 2012, in Lagos with the arraignment three more suspects - Oluwaseun Ogunbambo, Habila Theck and Fargo Petroleum and Gas Limited- by the anti-graft agency, the Economic and Financial Crimes Commission, EFCC.

The trio were docked before Justice Adeniyi Onigbanjo of the Lagos High Court, Ikeja on a 6 counts charge for conspiring to obtain the sum of N976, 653,110.28 (nine hundred and seventy six million, six hundred and fifty three thousand, one hundred and ten naira, twenty eight kobo only) from the federal government of Nigeria by falsely representing that the said sum was accrued subsidy for the importation of 13,627,084 litres of petroleum motor spirit.

They were also accused of forgery and use of false document contrary to section 364 of the Criminal Laws of Lagos State of Nigeria.

The accused persons pleaded not guilty to the charge when it was read to them.
Babajide Koku (SAN) counsel to the accused persons informed the court that he had filed a bail application dated 25 of July, 2012 and served on the prosecution. However, he said he needed time to respond to the counter affidavit and requested for a short adjournment.

Prosecution counsel, Usani Francis did not oppose the application. 
Justice Onigbanjo, consequently adjourned proceedings to Wednesday August 1, 2012 for hearing of the bail application while ordering that the accused be remanded in EFCC custody.