EFCC Set To Arraign Syndicate For N115m Oil Deal

The Economic and Financial Crimes Commission, EFCC, is set to arraign Emmanuel Owoicho, Managing Director, Owoema Resources Limited and five others over an alleged N115m (One Hundred and Fifteen Million Naira) oil deal.

Others are  Michael Morowei Oghenemi, Managing Director Standard Allied Universal Concept Limited; Emeka Achielefu Nwangwa, Managing Director,  Ann Petroleum Investment Company; Parbor Wariowei, Managing Director, Alien Logic Ways Unique Services; Ogboyomi Bartholomew Taiye, Managing Director, Unique Energy Systems Limited and Joseph Sunday Odega, Managing Director, Calibrate Inspection Services Limited.

The suspects, who operate as a syndicate, among other things, allegedly approached Bascom Energy Limited that they had a consignment of Bonny Light Crude Oil from the Nigeria National Petroleum Corporation, NNPC, for sale.

Unsuspectingly, Bascom Energy Limited entered into an agreement with the syndicate.

According to the complainant, the suspects, at various times, collected money up to N115m (One Hundred and Fifteen Million Naira) for the crude oil which was never supplied.

Having concluded its investigation into the matter, the Commission will soon arraign the suspects in court.