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Oil dealers in court over alleged theft of N15.1m

03 December 2015, 17:03

Lagos - A sales representative and two oil dealers who allegedly defrauded a company to the tune of N15.1 million were on Thursday docked at an Igbosere Magistrates' Court in Lagos.

The trio, Omorinkoba Idowu (50), Olusola Julius (37) and Adeloye Johnson (36), whose addresses were not provided, are standing trial on a five-count charge bordering on conspiracy, stealing and fraud.

The Prosecutor, Insp. Eshiet Eshiet, told the court that the accused committed the offences between April 2014 and April 2015, at Idumota market in Lagos.

He alleged that Idowu, the sales representative, conspired with the other two, who are oil dealers, to steal the sum of N13.3 million, property of one Therapeutic Laboratories’ Nigeria Ltd, of No. 372, Ikorodu Road, Maryland, Lagos.

Also read: Oil prices retreat as dealers eye US data

The prosecutor said that the accused also stole N1.8 million property of one Grace Omorinkoba.

Haruna alleged that the accused obtained the money under the guise of investing it in an oil and gas business, a representation which was false.

He said that the total amount of money stolen was N15.1 million.

The accused, however, all pleaded `not guilty’ to the charge preferred against them.

The Magistrate, Mr W. B. Balogun, admitted each of the accused to bail in the sum of N1 million each, with two sureties each in like sum.

Balogun ordered that the sureties must be gainfully employed and must show evidence of tax payment.

The case was adjourned till Dec. 15, for mention.


Tags lagos oil court

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