Absence of Oil Magnate Wagbatsoma Stalls Trial

Posted: July 26, 2012 - 12:51

Ontario Oil's Adaoha Ugo -Ngadi appears in court today

By SaharaReporters, New York

The case against seven suspected fraudsters linked to the theft of some $6.8 billion from the gasoline subsidy fund, was adjourned this week when several of the suspects failed to show up in court.

Among those who failed to appear before the Ikeja High Court was Nigeria's Minister of Justice and Attorney General, Mohammed Bello Adoke, and Walter Wagbastsoma of Ontario Oil and Gas Ltd.

Justices Habeeb Abiru and Adeniyi Onigbanjo said that in the absense of Wagatsoma, the first defendant in the fraud case, pleas by other defendants in the case could not be heard. Wagbatsoma is said to have left Nigeria to France.

Attorney Joseph Nwobudu (SAN), who promised yesterday that his client would come before the court, now claims that Wagatsoma will appear on August 1. But rights activists were not convinced and called the absences an attempt to derail the trial.

The case, brought by the Economic and Financial Crimes Commission (EFCC) includes the following charges:.Walter Wagbatsoma, Adaoha Ugo-Ngadi, Fakuade Babafemi Ebenezer, Ezekiel Olaleye Ejidele and Ontario Oil & Gas Nigeria Limited are to be arraigned for fraudulently obtaining over (N1.9 billion) from the Petroleum Support Fund (PSF)  for the purported importation of 39.2 litres of Premium Motor Spirit (PMS).

Mahmud Tukur, Abdullahi Alao, Ochonogor Alex and Eterna Oil and Gas Plc for fraudulently obtaining N1,899,238,946.02 from the PSF for the importation of 80.3 million litres of PMS.

The EFCC alleged that they had, on April 28, 2011, in Lagos, fraudulently obtained N676.9 million from the Federal Government, purporting same to be payment accruing to Eterna Oil under the Petroleum Support Fund.

The commission also accused the marketers of falsifying claims to have purchased 33, 288,388 litres of Premium Motoring Spirits (PMS) from Mercury Energy Trading AS and imported same to Nigeria through Ex-MT Fulmer, Ex-MT Emirates Star and Ex-MT Panther.

The anti-graft agency said their alleged offences contravened Sections 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006.

The offences also contravened Sections 467 and 468 of the Criminal Code, Laws of Lagos State 2003, it added.