Effa Okim — an investigative officer with the Economic and Financial Crimes Commission (EFCC) standing as prosecution witness at an Ikeja High Court in a case concerning oil marketing mogul, Abdullahi Alao — has recounted how the son of Ibadan-based businessman, Alhaji AbdulAzeez Arisekola-Alao conspired with others to commit fuel subsidy fraud to the tune of N1.1bn.
In court alongside Opeyemi Ajuyah and Olarenwaju Olalusi as well as their oil marketing companies (Majope Investment Ltd. and Axenergy Ltd) as co-defendants, Alao is facing an eight-count charge of conspiracy, obtaining money under false pretences, forgery, altering and use of false documents.
Responding to cross-examination questions from Mr Aderemi Oguntoye, counsel to Alao, Okim explained that EFCC’s investigations revealed that the trio imported 15,000 metric tonnes of petroleum products, but only discharged 4,264 metric tonnes at Lister Jetty in Apapa.
According to Okim, the 4,264 metric tonnes was delivered to Oando Plc, but the whereabouts of the remaining volume on board the vessel, MT Brave, was never known.
“My Lord, the over 10,000 metric tonnes remaining on board was not discharged within our domestic shores”, Okim said. “We do not know where the products were taken to”.
Okim explained that he was privy to all the information because he is the head of the EFCC subsidy team which investigated the transaction.
He added that 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.
Presiding judge, Justice Ayotunde Phillips adjourned the trial to Tuesday, 8th April 2014
