12th September, 2013
A Federal High Court sitting in Lagos, western Nigeria Thursday morning adjourned till 18 September for the proper arraignment of four oil companies and two other executives of the companies alleged to have swindled the Federal Government to the tune of N1.2 billion through oil subsidy scam.
Those involved in the alleged scam are Geacan Energy Ltd and its Managing Director, Chinyerem Anike Nweze, Petroleum Broker Ltd and its Managing Director, Ogundipe Olaniran, Lister Oil Ltd and Oando Plc.
The accused oil companies and the two managing directors were not arraigned because the police prosecuting counsel has not filed proof of evidence.
In a seven-count criminal charge filed against them, it was alleged that between January and April, 2011, the accused conspired with others at large to obtain the sum of N1.3 billion subsidy from the Federal Government under the pretence of importing N17.3 million petroleum products into Nigeria via a vessel called Alvis, thereby commiting the offence punishable under Section 8A of Advanced Fee Fraud And Other Related Fraud Offences.
They were also alleged to have forged insurance documents amounting to the tune of N2.2 billion.
The presiding judge, Mohammed Kurya, while adjourning the matter till 18 September, ordered the accused to be in court