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, with the arraignment three more suspects – Oluwaseun Ogunbambo, Habila Theck and Fargo Petroleum and Gas Limited- by the anti-graft agency, the and Financial Crimes Commission, EFCC.

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

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

The accused persons pleaded not guilty to the charge it was read to them.

Babajide Koku (SAN) to the accused persons informed the court he had filed a bail 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 , Usani Francis did not oppose the .

Onigbanjo, consequently adjourned proceedings to Wednesday August 1, 2012 for hearing of the bail while ordering the accused be remanded in EFCC custody.

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