Justice Sa'ad Mohammed of the Gombe State High Court, Gombe on Friday August 10, 2012, sentenced one Oluwaseun Abatan, a 34-year-old graduate of Quantity Surveying, to 28 years imprisonment.
Abatan who was first arraigned on 18th June, 2009 was convicted on four of the eight count charge of forgery and obtaining by false pretence brought against him by the Economic and Financial Crimes Commission.
The Economic and Financial Crimes Commission, EFCC, on Wednesday, August 8th, 2012, arraigned three officials of Keystone Bank (formerly Bank PHB): Anayo Nwosu, Olajide Oshodi and Sunny Obaze alongside the managing director of Nulec Industries Limited, Ashok Isran before Justice Habeeb Abiru of the Lagos State High Court sitting in Ikeja over an Eight Hundred and Fifty Five Million Naira (N855, 000,000.00) scam.
Specifically, the suspects were arraigned on a two count charge bordering on conspiracy to obtain the said sum from one Sir Daniel Chukwudozie of Dozzy Oil & Gas Limited under the false pretence of paying for preference shares of Nulec Industries Limited in an upcoming Initial Public Offer. Nulec Industries Limited and Keystone Bank were also separately charged with the suspects.
The attention of the Economic and Financial Crimes Commission, EFCC has been drawn to a report which appeared in Thisday Newspaper of Tuesday, August 7th, 2012 with the banner, Subsidy: EFCC Suspends Arraignment of Marketers. The report suggests that the Commission has, following political pressure, suspended further arraignment of oil marketing companies and their directors suspected to have been involved in the fuel subsidy scam. The Commission views the suggestion as a distasteful misrepresentation of the reality on ground.