NASA Space Technology
A prosecution stare with the Financial and Monetary Crimes Price (EFCC), Popoola Olayiwola, a staff of the Debt Management Role of job (DMO), has testified in court docket against Mamman Nasir Ali and Christian Taylor, who’re being prosecuted for an alleged N2.2bn oil subsidy fraud.
Ali and Taylor were arraigned alongside Nasaman Oil Companies Minute, sooner than Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos.
They were at the starting save standing trial sooner than Justice Adeniyi Onigbanjo of the Lagos Bellow High Court sitting in Ikeja, Lagos. Alternatively, Justice Onigbanjo withdrew from the case, thereby prompting the re-project of the case to Justice Dada.
The 2 suspects were then arraigned on amended 49-count charges bordering on conspiracy to sort money by fraudulent pretence.
The offense is opposite to Allotment 8 and 1(3) of the Come Price Fraud and Other Fraud Linked Offences Act 2006; acquiring money by fraudulent pretences, opposite to Allotment 1(3) of the Come Price Fraud and Other Fraud Linked Offences Act 2006; forgery, opposite to Allotment 363 (3)(j) of the Prison Law of Lagos Bellow 2011; and utilize of fraudulent documents opposite to Allotment 364 of the Prison Law of Lagos Bellow 2011.
One among the counts reads: “Nasaman Oil Companies Ltd, Mamman Nasir Ali, Christian Taylor, Oluwaseun Ogunbambo (now at fundamental) and Olabisi Abdul-Afeez (mute at fundamental), on or in regards to the 9th day of November 2011 at Lagos, within the Ikeja Judicial Division, with intent to defraud, conspired to sort the sum of N749,991,273.36 (Seven hundred and forty-9 million, 9 hundred and ninety-a thousand, 200 and seventy-three naira thirty-six kobo) from the Federal Govt of Nigeria by falsely claiming that the sum of N749,991,273.36 represented subsidy accruing to Nasaman Oil Companies Ltd beneath the Petroleum Strengthen Fund for the importation of 10,031,986 litres of Premium Motor Spirit (PMS), which Nasaman Oil Companies Ltd speculated to get bought from SEATAC Petroleum Ltd of British Virgin Islands and imported into Nigeria through MT Liquid Fortune Ltd of British Virgin Islands and imported into Nigeria through MT Liquid Fortune Ltd Ex MT In a foreign nation Lima, which representation you knew to be fraudulent.”
One other count reads: “Nasaman Oil Companies Ltd, Mamman Nasir Ali, Christian Taylor, Oluwaseun Ogunbambo (now at fundamental) and Olabisi Abdul-Afeez (mute at fundamental),on or in regards to the 11th day of April 2011 at Lagos, within the Ikeja Judicial Division, with intent to defraud, bought the sum of N1,480,074,125.61 (A thousand million four hundred and eighty million, seventy-four thousand, a hundred and twenty-5 naira sixty-one kobo) from the Federal Govt of Nigeria by claiming that the sum represented subsidy accruing to Nasaman Oil Companies Ltd beneath the Petroleum Strengthen Fund for the importation of 20,492,982.50 litres of Premium Motor Spirit (PMS),which Nasaman Oil Companies Ltd speculated to get bought from SEATAC Petroleum Ltd of British Virgin Islands and imported into Nigeria through MT Liquid Fortune Ex Mt. Hellenic Blue and Ex MT. Milleura, which representation you knew to be fraudulent.”
They both pleaded “no longer guilty” to the total charges when they were read to them.
In the period in-between, at the resumed sitting on Monday, the prosecution stare, Olayiwola, instructed the court docket that his designation become Operations Officer 1 as at the time the Sovereign Debt Exhibit (SDN), in contention become issued.
Olayiwola who become led in evidence by the prosecution counsel, S.K. Atteh, Olayiwola acknowledged: I’m Assistant Chief Operations Officer within the DMO now. In 2012, I become to blame of preparation of SDN in favour of oil marketers for his or her subsidy bid.
“I additionally put collectively letters of issuance notification to the Central Bank of Nigeria, CBN, and supervise the series of SDN by oil marketers.”
He proceeded by telling the court docket that he become additionally to blame of preparing redemption letters at the maturity of SDN to the CBN. “I additionally cease reconciliation with CBN on the SDN,” he added.
The stare further explained that SDN become the rapid term monetary instrument issued by the DMO beneath the Petroleum Strengthen Fund, which become operated by the Federal Govt of Nigeria between 2010 and 2015.
He further highlighted the quite so much of aspects of the SDN, which he acknowledged incorporated the crest of the Federal Govt, which is the issuer of the SDN; the amount of subsidy claimed/dues to grease marketers, a serial number that distinguishes every SDN in a batch of subsidy bid.
Olayiwola acknowledged: “It additionally has an finishing up date, the maturity date, signature of the Director General, and DG of the DMO. When it is restful from the DMO, a photocopy of the ID card of the particular individual that restful it is desirous about a duplicate of the SDN.”
He additionally testified that he knew the firm, Nasaman Oil Companies Minute, as one the firms that he ready SDN for in 2012, at the side of that: “I got to know the firm at some level of the direction of my duty at the DMO.
“In total, constant with the account accessible at the DMO, about 5 SDNs were ready for Nasaman Oil Companies Minute,” he acknowledged.
The stare then identified within the launch court docket two copies of the SDN, which get been already sooner than the court docket as Show veil P13.
He acknowledged: “I’m able to substantiate that the 2 in contention were issued to Nasaman Oil Companies Minute.
“In step with the shows sooner than me, I’m able to substantiate that the particular individual that restful the acknowledged SDN from the DMO is Christian Taylor, and he additionally acknowledged receipt,” he acknowledged.
In the period in-between, in identifying the 2 SDNs in contention, he acknowledged: “The amount fervent for SDN with serial number FGN/2011/01/Y110586 is N749,991,273.36. “For the 2d SDN with serial number FGN/2012/01/B12B/0692, the amount is N1,480,074,125.61.”
The stare additionally identified Christian H. Taylor within the dock, asserting , He restful the 2 SDNs,” and the prefer adjourned the matter till twenty sixth March 2024.
