EFCC Arraigns Abdulahi Alao, Four Others In Fresh Fuel Subsidy Scam

The Economic and Financial Crimes Commission, EFCC, on Wednesday 10, 2012, arraigned three individuals and two companies before Lateefa Okunnu of the Lagos High Court on a six count charge bordering on conspiracy to obtain money by false pretences, forgery and uttering to the tune of N1.110,049,444. 35 (One , One Hundred and Ten Million, Forty Nine Thousand, Four Hundred and Forty-Four Naira, Thirty-Five Kobo).

The three persons and two companies are: Opeyemi Ajuyah, Abdulahi Alao and Olanrewaju Olalusi, Majope Investment Limited and Axenergy Limited. They are alleged to have conspired to obtain the money by false pretence contrary to section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006. They are also accused of forgery, uttering and defrauding the Federal government of over N1.1 by falsely claiming sum represented subsidy accruing to them under the Petroleum Support Fund.
The accused persons pleaded not guilty to the charge when it was read to them.  Counsel to the EFCC, Rotimi Jacobs, SAN, told the court that he had just been served the bail application and so needed time to respond.

Okunnu adjourned the case to 19 , 2012 for hearing of the bail application while fixing 13 and 14 , 2012 for trial.

Abdulahi Alao and Axenergy Limited are also standing trial before a Lagos High Court, on another seven count charge bordering on obtaining the sum of N2, 640, 141, 707.75k (Two , Six hundred and Forty Million; One hundred and forty one thousand; Seven hundred and seven hundred naira, seventy five kobo only) being payments obtained from the Petroleum Support Fund for the purported
importation of 33.3 million litres of Premium Motor Spirit.

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