Three oil marketers: Adamu Maula, George Ogbonna and Emmanuel Morah, were yesterday re-arraigned by the Economic and Financial Crimes Commission (EFCC) over an alleged N789.6 million fuel subsidy fraud.
The marketers appeared alongside their companies — Downstream Energy Sources Ltd and Rocky Energy Ltd — before Justice Lateefat Okunnu of an Ikeja High Court.
They face a 26-count amended charge bordering on conspiracy, obtaining money by false pretences, forgery and altering.
Earlier arraigned on Feb.26, 2013 on an eight-count charge, the defendants had pleaded not guilty to the charge and were granted N50 million bail each, with two sureties in like sum.
The EFCC counsel, Mr Rotimi Jacobs (SAN), alleged that the defendants had committed the offences between March 2011 and January 2012 in Lagos.
Jacobs alleged that the accused fraudulently obtained N789.6 million from the Petroleum Support Fund (PSF) for a purported importation of 14.2 million litres of petrol from Europe to Nigeria.