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EFCC charges oil marketers with N7.8bn banking fraud

09 October 2017

The Economic and Financial Crimes Commission on Monday arraigned two oil marketers and their firms for an alleged banking fraud of N7.7bn.

The defendants – Ogbor Eliot; Godwin Okoronkwo; Danium Energy Services Ltd; and Petrosol Energy Ltd – were arraigned on 10 counts before the Federal High Court in Lagos.

In the charges, the EFCC alleged that the defendants conspired among themselves to fraudulently induce a bank to deliver a total of N7.7bn to Danium Energy Services Limited.

They were said to have fraudulently obtained the money from the bank on the false claim that their company, Danium Energy Services Ltd, had been contracted by Total Nigeria Plc to make supplies of Automotive Gas Oil.

According to the charges, the defendants on October 5, 2016, first obtained N1.5bn from the bank, claiming that their company was supplying N10,000 metric tons of diesel to Total Nigeria Plc for a sum of N1.9bn.

Again, on November 15, 2016, they obtained another N1.5bn from the bank, claiming that they had been contracted by Total Nigeria Plc to supply another N10,000 metric tons of AGO.

Also on January 30, 2017, they allegedly obtained another N3.3bn from the bank on the claim that they had been contracted to supply 15,000 metric tons of AGO for the sum of N4,103,100,000.

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