Categories: Nigeria News

Court sentences Ontario oil boss, Wagbatsoma to 10 years in prison over subsidy fraud

The Chairman of Ontario Oil and Gas Limited, Walter Wagbatsoma and the Managing Director of the company, Adaoha Ugo-Nnadi, have been sentenced to 10 years imprisonment for fuel subsidy fraud.

Justice Lateefa Okunnu of the Lagos High Court in Ikeja said the sentence started counting from from January 13, 2016.

The judge also ordered Ontario Oil and Gas to refund N754 million being the amount it defrauded to the Nigerian government.

The Economic and Financial Crimes Commission, EFCC, had arraigned Wagbatsoma, Ngo-Ngali, and an official of the Petroleum Products Pricing and Regulatory Agency, Babafemi Fakuade, before the court on August 1, 2013.

EFCC, in the eight counts pressed against them, alleged that they were involved in a N1.9bn fuel subsidy scam.

On January 13, 2017, Ugo-Ngali, had fainted at the courtroom after being found guilty of N754m oil subsidy scam by the court.

 

Details Later…

Idoko Dennis

Idoko Dennis is a creative videographer/drone pilot and sport writer. He heads the sport desk and deputizes the head of Idoma TV

Recent Posts

Probe panel: Ortom defeats Benue state govt at appeal court

The Court of Appeal, Makurdi Division, on Thursday set aside the ruling of the Benue…

4 hours ago

Police take action over murder of lawyer Mark Ofikwu in Otukpo

The Benue State Police Command has confirmed the tragic killing of prominent Otukpo-based lawyer and…

5 hours ago

BREAKING: Reps reject bill proposing six-year single tenure for president, governors

A bill proposing a six-year single term for the office of the president and state…

7 hours ago

BREAKING: Senate approves Tinubu’s ₦1.77 Trillion loan request to address 2024 Budget deficit

The Senate has approved President Bola Tinubu’s ₦1.77 trillion ($2.2b) loan request following a voice…

8 hours ago

Finland arrests Simon Ekpa, four others over terrorism financing

Finnish-Nigerian separatist leader, Simon Ekpa, and four others have been arrested in Finland for involvement…

8 hours ago

BREAKING: Biafra: Simon Ekpa arrested in Finland

Finnish-Nigerian separatist agitator, Simon Ekpa, and four other persons have been arrested in Finland over…

8 hours ago