NewsExpress banner Firstbank Verve banner Fidelity bank card banner Umm Sulaim's Thoughts Camano banner

Company Chairman, MD jailed for oil subsidy fraud

By News Express on 27/01/2017

Gmail icon

Views: 1,541

•Wagbatsoma.
•Wagbatsoma.

Convicted fuel subsidy fraudsters Mrs. Ada Ugo-Ngadi, Managing Director of Ontario Oil and Gas Limited, and Walter Wagbatsoma, the company’s chairman, were today sentenced to 10 years imprisonment by Justice Lateefa Okunnu of the Lagos High Court for defrauding the Federal Government of N754 million in oil subsidy claims.

The Economic and Financial Crimes Commission (EFCC) had arraigned the convicts before the court on August 1, 2013 alongside Mr. Babafemi Fakuade, an official of the Petroleum Products Pricing and Regulatory Agency (PPPRA) on charges of forgery, conspiracy and altering of document to commit fuel subsidy fraud.

The judge however, found Fakuade not guilty and acquitted him on the charges.

The court had in its ruling of January 13 found the duo of Wagbatsoma and Ugo-Ngadi guilty of all charges and convicted them but could not pass sentence on them due to the dramatic Collapse of one of the convicts, Ugo-Ngadi in court. She was subsequently hospitalised.

Justice Okunnu in her judgment today sentenced Wagbatsoma and Ugo-Ngadi to a minimum of ten years in prison for the six count charge proffered against them by the EFCC.

“For each of the counts of conspiracy to obtain money by false pretences the defendants are sentenced to ten years in prison.

“For the count of conspiracy to commit forgery, the defendants are sentenced to seven years in prison

“For the offence of forgery, the defendants are sentenced to eight years in prison.”

The Judge noted that the sentence passed was a total of 69 years for each of the convicts but the sentence was to run concurrently.

In the course of pronouncing judgment on Ontario Oil and Gas Limited, Justice Okunnu gave an order of restitution for Ontario Oil and Gas Limited to return N754 million to the Federal Government.

The conviction and sentencing is the first of the many cases of oil subsidy fraud currently under prosecution in various courts.

As the proceeding ended, prison warders, lawyers of the convicts and their family members molested the cameraman of EFCC for taking pictures of the convicts. (NAN)

Source News Express

Posted 27/01/2017 12:43:18 AM

 

 

CLASSIFIED ADS

 

You may also like...
NNPC unveils plans to revamp refineries from January...

Buhari to sack 2,000 varsity workers in January...

Amaechi’s ministerial confirmation a victory over forces of...

GSM subscription in Nigeria hits 154 million

Air Peace boss hails Okowa for Asaba Airport...

Pharmacist Council of Nigeria seals 577 premises in...

Court bars army from Rivers re-run polls

2 ministers locked out during inauguration of APC...

Obiano seeks partnership with Ethiopian Airlines on Anambra...

Buhari reaffirms Nigeria’s commitment to the global fight...

Minister tasks Federal Character Commission

Buhari vs Atiku: PDP expresses shock over Supreme...

 

Latest News Serving army officer in police net over alleged car theft Presidency orders probe of N40bn allegedly stolen at FIRS Gunmen pump ten bullets into actress Angela Okorie's head BREAKING: OAU loses second professor in 48 hours How to rescue Leah Sharibu, others - ACF Cultism: Mbaka warns politicians What to do before engaging house helps US expels two Chinese diplomats Teachers’ certification: No going back on December 31 deadline, FG insists Nigeria needs divine intervention – David Mark 4 killed in pilgrimage bus crash Emirate Council dismisses 2 District Heads for disloyalty in Kano State

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (573,236 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (457,188 views) Shameless Genevieve Nnaji exposes breasts in public (407,246 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (341,921 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (308,458 views) 10 cars more expensive than Jets (293,281 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (261,650 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (260,939 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (242,359 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (228,765 views) Lagos plane crash: Journalist releases victims’ names (204,440 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (200,759 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (112) Business & Economy (4,624) Business Verdict (89) Columnists (1,158) Complaints & Requests (98) Enterprise & Opportunities (221) Entertainment (719) Features (855) Global Business Monitor (499) ICT Monitor (73) International (4,328) Interview (220) Live Commentary (30) Love Matters (179) Maggie's Blog (520) News (55,313) Opinion (1,441) Pidgin (18) Politics (11,895) Religion (1,133) Sports (2,257) Stock Watch (41) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera