EFCC Closes Case Against 5 Suspects Over N789m Subsidy Fraud



The Economic and Financial Crimes Commission (EFCC) has closed its case against five suspects culpable in the N789 million subsidy scam. The suspects Opeyemi Ajuyah, Majope Investment, Abdullahi Alao, Axenergy, and Olarenwaju Olalusi were arraigned before a Lagos High Court sitting in Ikeja, Lagos State.

The suspects were earlier this year arraigned before a Justice Lateefat Okunnu Lagos High Court on an eight-count charge of conspiracy, forgery and obtaining money under false pretense. They were alleged to have obtained the sum of N798,984,707.35 from the Federal Government in unearned subsidy payments for 20,386,583 metric tonnes of Premium Motor Spirit (PMS).

EFCC through its prosecuting counsel, S.A. Ateh, on Thursday presented a witness, one Irene Moses who worked as a Terminal Manager for Oando plc at the time the alleged fraud was committed.


Moses had shown the court evidence which he identified as the summary of his company’s activities with Majope Investment concerning the receipt and discharge of fuel a between January 20 and 22, 2011.

According to the witness, Majope Investment only discharged a little above 4,285.141 metric tons of Premium Motor Spirit (PMS) and not 20,000 metric tons as claimed by the defendants. He also denied that Oando plc was kept products on behalf of other companies during the subsidy regime.

After conclusion of the cross examination of the witness, counsel to the first and second defendants, O Ajanaku, told the court that he had an application requesting for the production of prosecution witness 2.

However, Justice Lateefat Okunnu said that would be at the discretion of the prosecution team. She subsequently adjourned the case to 27 October 2015 for hearing of a motion raised by counsel to the defendants.

See Also: Yawa! Oil Company Managers In EFCC Net For Defrauding Haulage Firm Of Over N2bn

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