Two oil marketers, Oluwaseun Ogunbambo and Habila Theck, and their company, Fargo Petroleum and Gas Limited, were on Monday re-arraigned by the Economic and Financial Crimes Commission on an amended charge of N976.6 million fuel subsidy theft.
Ogunbambo and Theck were re-arraigned before Justice Adeniyi Onigbanjo of a Lagos High Court in Ikeja.
Ogunbambo, Theck and Fargo Petroleum and Gas Limited are facing prosecution for offences bordering on conspiracy, obtaining money by false pretence, forgery, altering and use of forged documents.
Counsel of the EFCC, Francis Usani, told the court that the defendants conspired with one Olugbegan Adesanya (still at large) to fraudulently obtain N976.6 million from the Federal Government of Nigeria.
Usani alleged that the defendants obtained the money as subsidy payments from the Petroleum Support Fund for the purported importation of 13.6 million litres of Premium Motor Spirits.
He said the PMS was purportedly purchased from one Seatac Petroleum Limited and imported into Nigeria through MT Diplomat Ex MT Milleura.
Usani further alleged that the defendants had on October 14, 2012 in Lagos, forged a document entitled Certificate of Origin, Port of Loading Antwerp, Belgium, which was used to facilitate the fraud.
Usani added that the defendants falsely claimed that the document was issued by Seatac Petroleum Limited.
According to him, the offences contravened Sections 1 (sub-sections 1,2,3) and 8 of the Advanced Fee Fraud and other Fraud Related Offences Act, Laws of the Federation of Nigeria.
Usani also said the offences contravened Sections 363 and 364 of the Criminal Laws of Lagos State, 2011.
The defendants, however, pleaded not guilty to the charges.