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Published On: Tue, Apr 8th, 2014

N1bn subsidy fraud: Court orders EFCC to produce defendant’s statement

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high courtFrom Matthew Irinoye, Lagos

Justice Lateefat Okunnu of a Lagos High Court, sitting in Ikeja, yesterday ordered the Economic and Financial Crimes Commission (EFCC) to produce adopted statements of Opeyemi Ajudua, the first defendant in an alleged N1billion fuel subsidy fraud.

The order followed an application by the counsel to the defendant, Olanrewaju Ajanaku, brought before the court requesting for the statement made by the defendant during interrogation, which according the anti-graft agency has refused to produce since the matter began in 2012.

It would be recalled that Ajuwah, along her company, Majope Investment Limited Abdullahi Alao, son of the Ibadan Islamic cleric, Arisekola Alao, Axenergy Limited and Olanrewaju Olalusi were dragged before the court for alleged N1.2bilion subsidy fraud.

Prosecution witness, Effong Okim yesterday, under cross-examination by counsel to the 3rd and 4th defendant, Aderemi Oguntoye, told the court that during investigation, the anti-graft agency discovered that out of the 15, 000 metric tonnes of fuel imported into the country by AXENERGY, in conjunction with Majope Investment and Sterling Bank as the financed bank, only 4, 200 metric tonnes were allegedly discharged.

“Oando Plc paid for 4, 200 metric tonnes out of the 15, 000 metric tonnes and the money was deposited with Sterling Bank, which is the receiving bank in the transaction. Investigation revealed that the remaining tonnes were not discharged but left in the ship. Money for the remaining tonnes did not reflect in the Statements of Accounts at Sterling Bank,” he told the court.

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