EFCC Releases List Of Big Time Subsidy Fraud Stars
The Economic and Financial Crimes Commission (EFCC) has released the list of the first batch of fuel subsidy suspects to be prosecuted in court. They are altogether seven companies and 12 individual.
The companies are:
- Nasaman Oil Services,
- Eternal Oil and Gas Plc,
- Ontario Oil & Gas Plc,
- Nadabo Energy Limited,
- Pacific Silver Line Limited,
- Axenergy Limited, and,
- Fago Petroleum and Gas Limited.
The individuals:
- Mamman Nasir Ali,
- Christian Taylor,
- Mahmud Tukur,
- Ochonogor Alex,
- Walter Wagbatsoma,
- Adaoha Ugo-Ngadi,
- Fakuade Babafemi Ebenezer,
- Ezekiel Olaleye Ejidele,
- Abubakar Ali Peters,
- Jude Agube Abalaka,
- Abdulahi Alao and,
- Oluwaseun Ogunbanbo.
Ezekiel Olaleye Ejidele is director of renowned accounting firm, Akintola Williams Delloite, while Fakuade Babafemi Ebenezer is a staff of the Petroleum Products Pricing and Regulating Agency (PPPRA).
Nasaman Oil Services, Mamman Nasir and Christian Taylor are to face charges bordering on obtaining N4,460,130,797.94 from the Federal Government of Nigeria under false pretence.
The sum is alleged to have been fraudulently obtained as subsidy payments from the Petroleum Support Fund for the purported importation of 30.5m litres of Premium Motor Spirit from SEATAC Petroleum Limited of British Virgin Islands.
In the same vein, the anti-corruption agency will equally prosecute Abdulahi Alao and Axenergy Limited for allegedly obtaining the sum of N2,640,141,707.75.
They are payments received from the Petroleum Support Fund for the purported importation of 33.3million litres of Premium Motor Spirit.
Others include Mahmud Tukur, Ochonogor Alex, Abdulahi Alao and Eternal Oil And Gas Plc.
They will be docked for fraudulently obtaining the sum of N1,899,238,946.02 from the Petroleum support Fund for a purported importation of 80.3million litres of Premium Motor Spirit.
Also, Nadabo Energy Limited, Abubakar Ali Peters, Jude Agube Abalaka and Pacific Silver Line Limited are to be prosecuted for allegedly obtaining the sum of N1,464,961,978.24.
These are payments fraudulently received from the Petroleum Support Fund for a purported importation of 19.4million litres of Premium Motor Spirit.
Walter Wagbatsoma, Adaoha Ugo-Ngadi, Fakuade Babafemi Ebenezer, Ezekiel Olaleye Ejidele and Ontario Oil & Gas Nigeria Limited will be arraigned for fraudulently obtaining the sum of N1,959,377,542.63 from the Petroleum Support Fund for a purported importation of 39.2million litres of Premium Motor Spirit.
Lastly, Fago Petroleum and Gas Limited and Oluwaseun Ogunbanbo are to be docked for fraudulently obtaining the sum of N979,653,110.20 from the Petroleum Support Fund for a purported importation of 33, 627, 840 litres of Premium Motor Spirit.
According to EFCC, the suspects are among a larger list of more than 140 individuals and organizations involved in ongoing investigations into the subsidy payments, and so more suspects will be arraigned periodically as the investigation progresses.
The Commission described the investigation as massive and extensive.
It reassured Nigerians that it would do all within its powers to apprehend and punish all the people that defrauded the country under the guise of subsidy for imported fuel.
Before now, there had been widespread belief that those involved could evade justice, as a number of high-profile national figures are thought to have spearheaded the scam. [myad]








3 Tomatoes For N300? By Emma Bello
That brings me to an attitude I find amazing in Nigerians: the super human ability to absorb anything, roll with the punches and move on. And so many Nigerians would soon adjust to the new day. A bag of rice would crown up to twenty thousand naira; so what? Nigerians would still buy the thing with a smile. After all, a bag of rice came from somewhere when it used to be two thousand or thereabout as far as I can recall. As a people we don’t ever say no. well, in 2012, we rose up to resist attempts to put extra burden on us. We marched out and shut down the country with our #occupyNigeria. I’m told now that we should not do the same thing in the current dispensation. Why? I’m informed that the new managers of the economy have better intentions than the last ones. And so they would use the subsidy funds more judiciously. Poor NLC! They don’t seem to be finding their groove. I’m writing this on a cool Monday evening and it is doubtful if they would be able to pull of any form of industrial action. Like the whole confusion on whether there was a subsidy removal or not, NLC is torn between two dominant views. One says there is no need for the labour unions to picket anything considering that the move to increase fuel price is a desirable surgery. Those holding the view have even accused NLC of working with beneficiaries of the subsidy funds, wondering why NLC wasn’t fighting for other welfare packages. NLC too has been blackmailed almost into submission with some big businesses querying the body and challenging it to come up with better solutions. I don’t know how NLC is going to respond to that but when it mobilised Nigerians in 2012 to resist the removal of subsidy, was it also protecting subsidy thieves then? If so, why was the movement so popular then? Personally, I don’t want any industrial action as it may only compound the anguish of the ordinary citizen.
So, what do we do? Well, let us just hope government would do something about prices of goods and services by forcing prices down. But in the absence of that I would give the following advice. First, everyone should start a garden and poultry behind their houses. That way, you can get all the tomatoes and other soup ingredients you need (sorry, you still have to go get maggi and oil, whose price may go up too). Secondly, sell off all your cars and keep just one that is fuel-able. Three, no more frivolity in spending: all owambes and night life should disappear. Four, no need to buy any fancy clothes henceforth. Mend the ones that are torn and dress sparingly. In the times we live in, a poor look is not such a bad thing. Also, reduce the rate of dependency. I’m sorry but those pesky country folks have to watch it. If you are a family man, you may have to worry only about the immediate family. Move to cheaper neighbourhood. In Abuja, life does not start and end in Maitama and Garki. Why live in a house whose rent scares you and makes you sleepless. Move to our good old Nyanya and Mararaba and get some good rent. You don’t have to worry about traffic. After all, there won’t be plenty cars on the road soon. Learn to eat from your kitchen. Expensive lunches and dinners are out of the window. In the new era we found ourselves, frugality and reticence have become a must. If we all do this and follow them religiously, I assure you, it shall be well. [myad]