N1.9bn Oil Subsidy Fraud: Wagbatsoma, others know fate on Jan 13

After over two years of legal battle to exonerate themselves from charges of illegally collecting oil subsidy money from the federal government, Wagbatsoma, Adaoha Ugo- Ndagi and Ontario Oil and Gas Limited will on Friday, 13 January, 2017 be handed over judgment in the case of conspiracy and obtaining property by false pretence.

The presiding Justice Lateefa Okunnu of a Lagos State High Court, Ikeja, will deliver judgement in the N1.9 billion oil subsidy theft charge brought against Walter Wagbatsoma, Adaoha Ugo- Ndagi and Ontario Oil and Gas Limited by the Economic and Financial Crimes Commission (EFCC).

National Daily gathered that they were alleged to have on July 7, 2010 obtained the sum of N340, 000,000 by false pretence from the Federal Government purporting the money to be subsidy payable to Ontario Oil and Gas Nigeria Limited.

The charges were brought against them after diligent investigations by the EFCC and found out that they conspired by and obtaining property by false pretence, forgery and altering of documents.

It would be recalled that Justice Okunnu had earlier dismissed all three applications filed on behalf of Walter Wagbatsoma, Adaoha Ugo-Ngadi and their company, Ontario Oil and Gas Nigeria Limited, challenging the jurisdiction and competence of the lower court as well as a no-case submission, argued by the defendants.

Attempt to also use the Court of Appeal to stop their trial also failed. In a lead ruling delivered by Justice Amina Augie, on April 30, 2015, the appellate court again dismissed their applications to stop the trial, by affirming the jurisdiction of the lower court, and ordered him and others to “go and face trial”.