The court of appeal sitting in Abuja has dismissed an application filed by Esai Dangabar, one of the six suspects who allegedly defrauded the Police Pension Office to the tune of N32.8 Billion naira (Thirty Two billion, Eight Hundred million naira). Dangabar filed the application, challenging the decision of Justice Lawal H. Gumi of the FCT High Court which ordered the Economic and Financial Crimes Commission, EFCC, to attach and take possession of his assets and to freeze his bank accounts.
The Economic and Financial Crimes Commission, EFCC, has concluded arrangements to prosecute the first batch 18 suspects implicated in the oil subsidy fraud. The suspects, comprising six oil companies and 11 individuals, will be docked in Lagos courts.
The companies involved are: Nasaman Oil Services; Eternal Oil and Gas Plc; Ontario Oil & Gas Plc; Nadabo Energy Limited; Pacific Silver Line Limited, Axenergy Limited and Fago Petroleum and Gas Limited.
The Economic and Financial Crimes Commission, EFCC, on Wednesday, July 4th, 2012 docked nine suspects at a Lagos State High Court sitting in Igbosere ,Lagos on a two count charge bordering on intent to defraud, conspiracy and stealing the sum of N16,467,000.000 (Sixteen million four hundred and sixty seven thousand naira ), property of Mr. Aiyeola Matthew of Golden Treasures Investment Limited . The money was given to them to purchase the sum of $155,000.00 (One hundred and fifty five thousand United States Dollars). They were arraigned before Justice Oyekan Abdulahi.
Justice Ibrahim N. Buba of the Federal High Court sitting in Asaba, Delta State, on Thursday 28th June, 2012, convicted two brothers, Collins Avoaja and Ikechukwu Avoaja to seven years imprisonment each on the 13 count charge of fraud and obtaining money under false pretence preferred against them by the Economic and Financial Crimes Commission, EFCC.