How Arisekola-Alao’s son, others allegedly obtained N1.1bn subsidy payment — EFCC

Old Bailey07 April 2014, Lagos – A prosecution witness, Mr Effa Okim, on Monday told an Ikeja High Court how an oil marketer, Abdullahi Alao, allegedly conspired with others to commit N1.1 billion fuel subsidy fraud.

Okim, an investigative officer with the Economic and Financial Crimes Commission (EFCC) testified at the resumption of Alao’s trial.

The accused is the son of prominent Ibadan-based businessman, Alhaji Abdullazeez Arisekola-Alao.

The accused is being prosecuted alongside two other oil marketers, Opeyemi Ajuyah and Olarenwaju Olalusi and their companies– Majope Investment Ltd. and Axenergy Ltd.

They are facing an eight-count charge bordering on conspiracy, obtaining money under false pretences, forgery, altering and use of false documents.

Okim, under cross-examination by Alao’s counsel, Mr Aderemi Oguntoye, explained that he was the head of the EFCC subsidy team which investigated the transaction.

He said their investigations revealed that the marketers imported 15,000 metric tonnes of petroleum products, but only discharged 4,264 metric tonnes at Lister Jetty in Apapa.

According to him, the 4,264 metric tonnes was taken by Oando Plc, while the products remaining on board the vessel, MT Brave, were taken away to an unknown location.

“My Lord, the over 10,000 metric tonnes remaining on board was not discharged within our domestic shores.

“We do not know where the products were taken to,” the witness said.

Okim said the marketers were charged to court because they had obtained the subsidy payment for 15,000, instead of the 4,264 metric tonnes they discharged into the facility.

The matter was adjourned to April 8 for continuation of trial.



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