The Managing Director of Stonebridge Oil
Limited, Samuel Owa, was on Tuesday arraigned before a Federal High
Court in Lagos by the Special Fraud Unit (SFU) of the Nigerian Police
over alleged economic crime and fraudulent collection of N1.7 billion
fuel subsidy from the Federal Government.
Mr. Owa and his company were arraigned alongside Vibrant Ventures Limited and a cargo surveyor with the firm, Olori Onassis Wajutom, on charges related to crime.
The accused were ordered to be remanded in prison custody pending the hearing of their bail application scheduled for Thursday, 20 June 2013.
The prosecutor, Effiong Asuquo told Justice Ibrahim Buba in count one that the accused persons conspired among themselves to commit felony to wit obtaining money under false pretext from the Federal Government, an offence contrary to and punishable under Section 8 (a) of the Advance Fee Fraud and Other Related Offences Act, Cap. A6, Laws of the Federation of Nigeria, 2004.
In count two, the SFU alleged that the accused fraudulently obtained N1.7 billion from the Federal Government, while in count three, they were said to have falsely claimed to have imported and discharged 15,000 metric tons of Premium Motor Spirit, otherwise known as petrol.
In count four, the police alleged that Vibrant Ventures and Mr. Wajutom, while acting as Eco Bank appointed cargo surveyors, aided Stonebridge Oil and Mr. Owa to obtain the said N1.7 billion from the Federal Government as subsidy claim on the false pretext that 15,000 metric tons of petrol had been imported and discharged via M.T. Brave, Ex M.T. Starling and Ex M.T. Pyxis Delta.
The accused persons, who are being defended by Joseph Nwobike, pleaded not guilty to the allegations, while Justice Buba fixed Thursday for hearing of their bail application.
Mr. Owa and his company were arraigned alongside Vibrant Ventures Limited and a cargo surveyor with the firm, Olori Onassis Wajutom, on charges related to crime.
The accused were ordered to be remanded in prison custody pending the hearing of their bail application scheduled for Thursday, 20 June 2013.
The prosecutor, Effiong Asuquo told Justice Ibrahim Buba in count one that the accused persons conspired among themselves to commit felony to wit obtaining money under false pretext from the Federal Government, an offence contrary to and punishable under Section 8 (a) of the Advance Fee Fraud and Other Related Offences Act, Cap. A6, Laws of the Federation of Nigeria, 2004.
In count two, the SFU alleged that the accused fraudulently obtained N1.7 billion from the Federal Government, while in count three, they were said to have falsely claimed to have imported and discharged 15,000 metric tons of Premium Motor Spirit, otherwise known as petrol.
In count four, the police alleged that Vibrant Ventures and Mr. Wajutom, while acting as Eco Bank appointed cargo surveyors, aided Stonebridge Oil and Mr. Owa to obtain the said N1.7 billion from the Federal Government as subsidy claim on the false pretext that 15,000 metric tons of petrol had been imported and discharged via M.T. Brave, Ex M.T. Starling and Ex M.T. Pyxis Delta.
The accused persons, who are being defended by Joseph Nwobike, pleaded not guilty to the allegations, while Justice Buba fixed Thursday for hearing of their bail application.
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