Alleged N87.5m Fraud: Court Grants Oil Marketer N50m Bail

Justice Akintayo Aluko of the Federal High Court in Lagos has granted an oil and gas marketer, Benson Enyinnah, accused of N87.5m fraud, bail in the sum of N50 million with two sureties in like sum.

Enyinnah, who is a fellow of the Chartered Institute of Taxation of Nigeria, was arraigned before the court by the men of Police Special Fraud Unit (PSFU), on allegations of conspiracy, obtained by false pretence.
The defendant was docked in a charge marked FHC/L/451c/22 alongside his wife, Nneka Glory Benson, said to be at large, and his three companies.

He was accused by the police of using his wife and the companies: Glory Energy Company Limited; Petroyal Energy Company Limited and Glonnek Energy Resources as conduit pipes to defraud his victims.
The police prosecutor, Chukwu Agwu, had informed the court that the defendant allegedly defrauded Obimma Benedicta Chinazor; Chioma Ifeanyichukwu; Vivian Ifeoma Ndukwu; Chidiebere A. Okoli, and Greenland Energy Limited of the sums of N27, 477, 600 million; N15. 5 million; N28,980 million; N15. 6 million and N20.850 million respectively.

Agwu, had also claimed that the defendant and his wife who is said to be at large, committed the offences between 2021 and May 2022.

He insisted that the offences contravened Sections 8 (a) and 1(1)(a), (b), and (c); of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.

The defendant, however, pleaded not guilty to the charge.

Justice Aluko while delivering a ruling on the defendant’s bail application on Friday, directed that one of the sureties must be an owner of a fully developed property with verifiable title documents within the Court’s jurisdiction.

The judge also held that the other surety must be a government worker on Grade Level 15 or above, or, a businessman with a well-funded account.

The judge further directed that the sureties must have evidence of three years of tax payment and that the defendant should deposit his international passport with the court’s Registrar.

Justice Aluko before adjourning the matter to October 21 for trial, ordered that the defendant should be returned to the custody of the Nigerian Correctional Services (NCoS) until the bail terms are fulfilled.