N272.5m Fraud: Oil Marketer Freed
Lagos State High Court in Ikeja has dismissed a two-count charge of stealing and fraud against an oil marketer, Anthony Adejugbe and his firm, Tonique Oil Services Limited.
Justice Lateefat Okunnu held that the prosecution – the Economic and Financial Crimes Commission (EFCC) – did not prove its case against the defendants.
The judge discharged and acquitted Adejugbe and his firm.
The EFCC arraigned the defendants on November 13, 2012, saying they fraudulently obtained N272,500,000 from Watergate Petroleum and Gas Limited, under the pretence of supplying five million litres of petrol.
But the defendants pleaded not guilty.
Following a five-year trial, the court noted that there was neither evidence nor “a whiff of rumour” to establish the prosecution’s allegation against Adejugbe and his firm.
Justice Okunnu held: “It is my findings that this is neither a case of stealing, nor one of obtaining by false pretence”
“The prosecution was unable to sustain its case, and so, without further ado, I hereby dismiss the case against both defendants.”
“Each of them, therefore, stands acquitted and discharged on each of the two-count charge.”
