Court Orders EFCC To Probe Oil Marketer Over Fraud

Justice Deinde Dipeolu of the Federal High Court in Lagos has ordered the Economic and Financial Crimes Commission (EFCC) to investigate an oil marketer, Kehinde Ogbor and his company, Danium Energy Services Limited, for alleged fraudulent misrepresentations of fact.

Justice Dipeolu granted the order after entertaining an ex parte application filed on behalf of Union Bank of Nigeria Plc by its lawyer, Adetunji Adedoyin-Adeniyi, over a Memorandum of Settlement and Consent Judgment allegedly obtained by fraudulent means against Ogbor and his company.

The bank had accused the defendants of allegedly fraudulently obtaining the memorandum of settlement dated March 6, 2018 and the Terms of Settlement dated April 23, 2018, which was adopted as Consent Judgment of the court on April 25, 2018, in Suit No: FHCLICS/1477/17-1 with fraudulent title documents.
Other defendants in the suit are Ajibola Adetutu, Garba Mohammed and LOLAG-SONG (Nigeria) Company.

The judge ordered the anti-graft agency to investigate the alleged fraudulent misrepresentations made against the defendants and submit its investigation report to the court within 90 days or any other time as may be extended by the court.

The court also granted an order mandating Ogbor to submit his international passport/travel documents to the deputy chief registrar of the court pending the conclusion of the criminal investigation by the EFCC or as may be directed by the court on the ground that he has become a flight risk.

Justice Dipeolu further directed the Nigerian Immigration Service (NIS) to flag the second defendant’s International Passport or any travel document and or restrain him upon sighting at any international airport or any territorial border or any point of exit that can be used to depart Nigeria and present him to the court pending the conclusion of the criminal investigation by the EFCC.

In an affidavit attached to the suit and deposed to by a lawyer, Patrick Mgbeoma, the plaintiff averred that the first defendant applied for and was granted loan facilities for $24,000,000 for the importation of Gasoil for onward supply to confirmed Offtaker-Bodej Investments Limited.

The plaintiff claimed that the defendants failed to repay the loan as and when due, thereby resulting in their indebtedness to it in the sum of N16.8 billion, which led to the execution of the Memorandum of Settlement.

The bank also alleged that the failure of the defendants to pay back the loan as agreed further increased their indebtedness, with accruing interest to N20.7 billion as of July 24, 2023.