Court Remands Man In Yola Prison Over N12.5m Oil Fraud

A Federal High Court, sitting in Yola, Adamawa State, has remanded one Festus Agbomodion in Yola Correctional Centre for engaging in oil fraud.

Agbomodion was arraigned on Thursday by the Gombe Zonal Command of the Economic and Financial Crimes Commission (EFCC) before Justice A. M. Anka

EFCC arraigned him on two-count charges bordering on intent to defraud and obtaining under false pretence to the tune of N12,500,000.00.

According to EFCC, in 2019, the accused collected the sum of N12,500,000 from one Mr Johnson Femi with the purpose of supplying two trucks of diesel to Bretrogeen Enterprises limited, but failed to do so.

Count one reads: That you Festus Agbomodion on or about 2nd of January, 2019 at Yola, Adamawa State, within the Jurisdiction of this Honourable Court, with intent to defraud did obtain the sum of N12,500,000 (Twelve million, five hundred thousand naira only) from one Mr. Johnson Seun Femi under false pretence that the said sum was meant for the supply of two trucks of diesel to Bretrogeen Enterprises limited (A limited liability Company) which you knew to be false and hereby committed an offence contrary to Section 1 (1)(a) and punishable in Section 1(3) of Advance Fee Fraud and Other Related Offences Act, 2006.

Another reads : That you Festus Agbomodion and Okeke Magnus sometime on or about 2nd of January, 2019 at Yola, Adamawa State, within the Jurisdiction of this Honourable Court, did retain the sum of N12,500,000 (Twelve million, five hundred thousand naira only) from one Mr. Johnson Seun Femi as money for the supply of two trucks of diesel to Bretrogeen Enterprises limited (A limited liability Company) knowing or reasonably ought to have known that such fund formed part of a proceed of unlawful activity to wit, obtaining by false pretence and thereby committed an offence contrary to Section 15 (2)(d) and punishable in Section 15(3) of the Money Laundering Act, 2011.

In view of his plea of ” not guilty”, prosecution counsel, M.O..Labaran prayed the court for a trial date, while the defence counsel, S.O. Akporido informed the court of an existing bail application for the defendant.

The judge granted the defendant bail in the sum of Five Million Naira and one surety in like sum.

He ordered that the surety must be resident and own a landed property in the defendant’s community

The judge therefore remanded Agbomodion in Adamawa Correctional Centre pending fulfilment of his bail conditions and the matter was adjourned till 29th February 2024 for trial.