4 directors remanded over €2.6 billion.

4 directors remanded over €2.6 billion.

Justice Mohammed Liman of the Federal High Court, Lagos, yesterday ordered the remand of four directors of Petro Union Oil and Gas Limited in the custody of the Economic and Financial Crimes Commission (EFCC) over an alleged £2.6 billion fraud.


The order was a sequel to the arraignment of the directors alongside the firm, Petro Union Oil, and Gas Limited, on a 7-count charge bordering on the alleged offence by the EFCC.

The oil company’s directors ordered to be remanded in are: Abayomi Kukoyi; Prince Kingsley Okpala; Prince Chidi Okpalaeze ,and Prince Emmanuel Okpalaeze.

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The accused were arraigned by the Economic and Financial Crimes Commission (EFCC) but pleaded not guilty to the charge against them.

The EFCC in a charge marked FHC/L/46c/2020, brought against the directors alongside the oil company and one Prince Isaac Okpala (now deceased) were alleged to have committed the offences between 1994 and 2007.

They were alleged to have fraudulently procured a cheque from a foreign bank in the sum of £2.556 billion, under the pretext that it was meant to construct three petrochemical refinery complexes in Nigeria.

They were also alleged to have sometime in April 2007, forged a statement of account in the name of Goldmatic Limited, which was used to obtain the sum of £2.159, 221, 313.54 billion.

The directors were also accused of altering a bank cheque dated December 29, 1994, in the sum of £2.556 billion, made payable to Gladstone Kukoyi & Associates, for the purpose of constructing three petrochemical refineries in Nigeria.

According to the EFCC prosecutor, Mr. Rotimi Jacobs (SAN), the offences are contrary to, and punishable under sections 1(2), 1(2)(a) of the Miscellaneous Offences Act, Law of the federation of Nigeria, 1990.

The offences are also said to be contrary to and punishable under sections 509, 467(2)(I) and 468 of the Criminal Code Act, Laws of the Federation if Nigeria, 2004.

Following their plea of not guilty, the prosecutor, Jacobs (SAN) asked the court for their remand and also trial date.

Responding defence lawyers, Olasubomi Adegbemisoye and Bashir Ramon, drew the court’s attention to the bail motions of their clients which they said will be served on the prosecution.

They equally urged the court to order their clients’ remand in EFCC’s custody owing to their state of health.

After listening to the submissions of parties, Justice Liman adjourned the matter to 19th February 19, for trial and hearing of the defendants’ bail motion. He also directed that the defendants should be remanded in EFCC’s custody.

Man Kills friend over over N100 debt In Lagos

A man has killed his friend for allegedly refusing to pay back a debt of N100 he was owing him at White sand area of Badia , Apapa Iganmu Council ,Lagos .

The deceased, White London, was indebted to his friend ,Emma, of N 1, 100.00 ,with a promise to pay back within a week.

A witness , Sunday said white London paid Emma ,an attendant in a film house/ brothel,N1,000, leaving behind a balance of N100.

Sunday said ,Emma insisted that London as he was fondly called must pay the balance of N100 or he would not let him go : ” We were begging him to allow London go, but Emma refused ,so the thing degenerated to a serious argument . From argument ,the matter escalated to a scuffle and in the process, London stabbed Emma in the head.

” Emma also picked a bottle and succeeded in stabbing London the neck. Infact, the bottle penetrated deep into the neck . Due to the excessive blood that rush out from his neck, Emma died on the spot.

It was further gathered that the London had attempted to bolt away, but was apprehended by some members of the Oodua People’s Congress (OPC), who intimated the police operatives attached to Badia Division who arrested him.

Our correspondent who later visited the Police Station gathered that the body has been deposited at a public morgue, while the arrangement was being made to transfer the suspect to the State Criminal Investigation and Intelligence Department (SCIID) Panti, for further investigation.

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About the Author
Philomena  Ngozi Christopher-Oji was born to the family of the late Michael and Cecilia Ojeogwu of Ubulu-Uku, in Aniocha South Local Government Area, Delta State. She had her primary and secondary education in Nwanoli and Ezemu Girls College, in Ubulu-Uku, before she proceeded to the Delta State University, Abraka, where she studied English and Literary Studies.

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