EFCC arraigns oil marketer, firm for N349m fraud

EFCC arraigns oil marketer, firm for N349m fraud

The Economic and Financial Crimes Commission, on Monday, arraigned an oil marketer, Ngozi Okoye, before the Lagos State Special Offences Court in Ikeja for alleged N349m fraud.

Okoye was charged alongside her company, Menoil Oil and Gas Limited, on two counts of obtaining goods by false pretences and stealing.

anti-graft agency alleged that the defendant, through her company, obtained two million litres of Automotive Gas Oil worth N275m from the Director of Enegas Power Limited, Frank Karkitie, on the pretext that she would pay for the product after its sale.

According to the EFCC prosecutor, T. J. Banjo, the defendant sometime in 2013 also stole the sum of N74m belonging to Karkitie.

The offences were said to be contrary to sections 278 (1),(b), 278(2)(f) and 285 (1) of the Criminal Laws of Lagos State No.11 of 2011 and Section 1(1)(a) and (3) of the Advance Fee Fraud and Other Fraud Related Offences Act No.14 of 2006.

The defendants pleaded not guilty to the charges.

Following her plea, Banjo urged the court to remand Okoye in a correctional facility, while her counsel, Olaide Adedapo, informed the court of a pending bail application dated February 27, 2020.

However, the prosecutor told the court that he needed time to respond to the bail application.

The presiding judge, Justice Mojisola Dada, ordered the remand of the defendant in a correctional facility pending the hearing of the bail application and adjourned the case till March 5, 2020, for the hearing of the bail application and June 1, 2020, for trial.

charges read in part, “That you, Ngozi Philomena Okoye and Menoil Oil and Gas Limited, sometime in 2013 in Lagos within the jurisdiction of this honourable court, obtained two million litres of AGO valued at N275,000,000 from Frank Karkitie, the Director of Enegas Power Limited, by falsely representing to Frank Karkitie that the product would be paid for upon its sale, which you knew to be false.”

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