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Oil executives to appear in court over fraudulent deals

05 February 2015, 13:41

Abuja - The Economic and Financial Crimes Commission (EFCC) said it would arraign six suspects, including oil and energy industry executives, over an alleged N115 million oil deal.

EFCC’s Wilson Uwujaren, Head, Media and Publicity, said the anti-crime agency would seek the prosecution of Emmanuel Owoicho, Managing Director of Owoema Resources Limited, alongside Michael Morowei Oghenemi, Managing Director Standard Allied Universal Concept Limited; Emeka Achielefu Nwangwa, Managing Director,  Ann Petroleum Investment Company; Parbor Wariowei, Managing Director, Alien Logic Ways Unique Services; Ogboyomi Bartholomew Taiye, Managing Director, Unique Energy Systems Limited and Joseph Sunday Odega, Managing Director, Calibrate Inspection Services Limited.

Also read: EFCC declares Nyako, son wanted

The suspects, who allegedly operate as a syndicate, among other things, allegedly approached Bascom Energy Limited that they had a consignment of Bonny Light Crude Oil from the Nigeria National Petroleum Corporation (NNPC) for sale.

Unsuspectingly, Bascom Energy Limited entered into an agreement with the syndicate.

According to the complainant, the suspects, at various times, collected money up to N115 million for the crude oil which was never supplied.

“Having concluded its investigation into the matter, the Commission will soon arraign the suspects in court,” said Uwujaren.

- CAJ News

Tags efcc fraud

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