The Economic and Financial Crimes Commission, EFCC, on Thursday, arraigned the duo of Adegbite Adetoye and Ponnle Abiodun along with Origin Oil and Gas Limited before Justice Silvanus Orji of the FCT High Court Apo, Abuja on an 11-count charge of fraud and abuse of Petroleum Support Fund to the tune of N735 million.
Adetoye and his co-accused allegedly conspired and fraudulently obtained the sum of N735, 132, 076.18 from the federal government as payment for the importation of 15,000mt of premium motor spirit (PMS) which they claim to have purchased from Vitol SA and imported into Nigeria through MT Silverie.
The offence contravenes Section 8 (a) and punishable under Section 1 (3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
They were also accused of forgery contrary to Section 366 of the Penal Code Act, Laws of the Federal Republic of Nigeria 2004.
The defendants pleaded ‘not guilty’to the charge.
S. I Ameh, SAN, counsel to the defendants, informed the court that he had a pending bail application dated March 27, 2017 and served on the prosecution same date.
He urged the court to admit the defendants to bail adding that they would be available for trial.
Counsel to EFCC, Steve Odiase, did not oppose the application.
Justice Orji granted bail to the defendants in the sum of N100 million each with two sureties in like sum. The sureties must be civil servants not below grade level 14 and resident in Abuja with traceable address to be verified by the court or EFCC. The defendants must not travel out without the permission of the court.
The case has been adjourned to May 22and 25, 2017 for hearing.
Meanwhile, Justice Orji has ordered the defendants to be remanded in prison custody pending the perfection of their bail terms.
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