Lagos - The Economic and Financial Crimes Commission (EFCC) on Wednesday re-arraigned Abdullahi Alao, son of prominent businessman, Abdullazeez Arikesola-Alao, over a fresh allegation of N1.1 billion fuel subsidy fraud.
The younger Alao was re-arraigned before Justice Lateefat Okunnu of an Ikeja High Court, Lagos.
He was arraigned alongside two other oil marketers, Olarenwaju Olalusi and Opeyemi Ajuyah, and their companies --Majope Investment Ltd. and Axenergy Ltd.
The accused are facing a six-count charge of conspiracy, obtaining by false pretences, forgery, uttering and use of false documents.
They, however, pleaded not guilty.
EFCC counsel, Mr Rotimi Jacobs (SAN), alleged that the defendants had on Feb.14, 2011, fraudulently obtained N1.1 billion from the Federal Government.
Jacobs said that the defendants obtained the money from the Petroleum Support Fund (PSF) for a purported importation of Premium Motor Spirit (PMS).
He further claimed that they forged a document titled "Shore Tank Certificate" dated Jan. 21, 2011 allegedly issued by an officer of Q and Q Control Services Ltd.
They were also alleged to have forged other documents, including bills of lading, to facilitate the fraud.
He said the offences contravened Sections 1, (sub-sections 1,2,3) and 8 of the Advanced Fee Fraud and other Fraud Related Offences Act, Laws of the Federation of Nigeria.
Jacobs also stated that the offences contradicted Sections 363 and 364 of the Criminal Laws of Lagos State.
The judge remanded the defendants in EFCC custody, pending the hearing of their bail applications fixed for Oct.19.
The EFCC had on July 26 arraigned Alao alongside Mahmud Tukur, Ochonogor Alex and Eternal Oil Ltd., over alleged N1.8 billion fuel subsidy fraud before Justice Adeniyi Onigbanjo of an Ikeja High Court, Lagos.
Alao was on the same date docked before Justice Habeeb Abiru of an Ikeja High Court, Lagos, for fraudulently obtaining N2.6 billion from the PSF.