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EFCC arraigns two businessmen, firms over alleged bank fraud

The Economic and Financial Crimes Commission (EFCC) on Monday, October 9, 2017 arraigned two businessmen and at the Federal High Court, Lagos State, for allegedly inducing a financial institution to deliver to a firm, Danium Energy Services Limited, N1.5 billion under a false pretence.

Federal High Court

The Federal High Court in Lagos

Also arraigned before Justice Oluremi Oguntoyinbo were two firms.

The suspects had caused the banks to believe that Total Nigeria Plc vide a letter dated October 5, 2016 with the reference number OPS/SUP/10/16/361 contracted Danium Energy Services Limited to supply 10, 000 Metric Tons of Automotive Gas Oil for the sum of N1.9 billion and therefore needed the fund to get it done.

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Those arraigned on a 10-count charge are Ogbor Kehinde Eliot, Godwin Okoronkwo, Danium Energy Services Limited and Petrosol Energy Limited.

According to the charge dated October 3, 2017 and designated CB: 3000/EFCC/LS/CTGI/STF/LD/VOL.01/, the defendants were also said to have conspired and defrauded the financial institution.

The EFCC said Eliot and Danium Energy Services Limited on or about January 30, 2017 in Lagos, with intent to defraud, conspired amongst themselves to induce the new generation bank to deliver to Danium Energy Services Limited a sum to the tune of N3.3 billion under the false pretence that Total Nigeria Plc vide a letter dated January 30, 2017 contracted the energy firm to supply 15,000 Metric Tons of Automotive Gas Oil (AGO) for the sum of N4.1 billion.

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Eliot and the energy firm were said to have on February 3, 2017 induced the said bank to deliver to Danium Energy Services the sum of N3.3 billion under the false pretence that Total Nigeria Plc vide a letter dated January 30, 2017 contracted the energy firm to supply 15,000 metric tons of Automotive Gas Oil (AGO) for the sum of N4.1 billion among others.

However, the defendants pleaded not guilty to the charges.

In her ruling, Justice Oguntoyinbo ordered that the defendants be remanded in the custody of the EFCC until Wednesday, October 11, 2017 for their bail application will be heard.

By Chinyere Obia

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