A Review of the Nigerian Energy Industry

EFCC re-arraigns Arisekola’s son over N2.6bn subsidy fraud

19 March 2015, Lagos – The Economic and Financial Crimes Commission has further amended the charges it filed against the son of late Ibadan business magnate, Alao Arisekola, Abdullahi, over alleged fuel subsidy fraud.

Gavel.judge.justicepegIn the latest amended charge read to Alao and his company, Axenergy, on Wednesday, the accused were said to have allegedly obtained a sum of N2.6bn from the Federal Government under false pretence.

The amended six counts before Justice Olabisi Akinlade of a Lagos State High Court in Igbosere also bothered on forgery, use of forged documents and uttering.

It was the third time that the EFCC would be amending the charges filed against Alao.

The commission, in the latest amended charge, particularly accused him and his company of obtaining the N2.6bn from FG under the guise that it was the subsidy sum on 33.3 million litres of Premium Motor Spirit purportedly imported into the country from Europe.

The anti-graft commission said the offence was contrary to Section 1 (3) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006.

But upon reading the charges to the accused, they pleaded not guilty.

Alao was first arraigned on July 26, 2012, before Justice Habeeb Abiru, who has now been elevated to the Court of Appeal.

He was then granted bail in the sum of N100m with two sureties in like sum.

The ongoing trial before Akinlade could, however, not proceed on Wednesday as the prosecution failed to bring its witnesses to court.

The prosecutor, Anslem Ozioko, had told the court that the two witnesses he intended to bring to court were indisposed.

He therefore urged the court to grant him a short adjournment.

But the defence counsel, Prof. Taiwo Osipitan (SAN), who said he had had to cancel a trip to Abuja just to appear in court, expressed disappointment over the development.

The judge, however, conceded to an adjournment and fixed May 13 and 14, 2015, for continuation of trial

– Punch

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