Fuel subsidy scam, court grants bail to indicted marketers

The Economic and Financial Crimes Commission

Eight oil marketers allegedly involved in the fuel subsidy scam have been granted bail.


Judges of the Lagos High Court have granted bail to eight oil marketers standing trial for illegally receiving dubious sums of money under the Petrol Subsidy scheme.

The eight marketers and their companies were arraigned on October 5 for allegedly defrauding the Federal Government of N3.7 billion.

One of the two judges, Habeeb Abiru, granted two of the accused – Aro Bamidele and Abiodun Bankole- bail in the sum of N100 million each with three sureties each in like sum. The sureties must be resident in Lagos, gainfully employed and should depose to an affidavit of means, showing that they could meet the bail bond.

He said that two of the sureties for each of the defendants must own landed property in Lagos State while the other surety must be a director in a quoted company in Nigeria. He also ordered that the sureties produce three years’ tax clearance certificates, and that the documents be verified by the Economic and Financial Crimes Commission, EFCC.

Okowa Campaign AD

Mr. Abiru also granted bail to Ifeanyi Anosike, Emeka Chukwu and Ngozi Ekeoma in the sum of N75 million each with two sureties in like sum. He also granted bail to Adamu Maula, George Ogbonna and Emmanuel Morah in the sum of N50 million each with two sureties in like sum.

He directed that the sureties must be gainfully employed, should depose to an affidavit of means and own landed property in Lagos State worth, at least, N50 million. The judge ordered the sureties to produce three years’ tax clearance certificates. She also ordered the accused persons to deposit their international passports with the court’s Chief Registrar.

The second judge, Lateefa Okunnu, ordered the defendants to deposit their international passports and other travelling documents with the court’s Chief Registrar.

She ordered the defendants not to travel out of Nigeria without the court’s permission and ensure they report to the EFCC office once a month throughout the duration of the trial.

The eight persons were alleged to have conspired to forge, fraudulently altered documents and obtained over N3 billion from the Federal government purporting the said sum to be payment for subsidy under the Petroleum Support Fund.

They all pleaded not guilty.

Mr. Abiru adjourned the case he is presiding over to November 26, 28 and 29 for trial, while Ms. Okunnu adjourned hers to November 22, 27 & 28.

The accused persons are to remain in EFCC Custody until they perfect their bail terms.

Support PREMIUM TIMES' journalism of integrity and credibility


Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: New Discovery! Click Here To See A Miracle Device That Can Cure DIABETES, BLOOD PRESSURE, STROKE, ARTHRITIS, PAINS, OBESITY And 50 Other CHRONIC DISEASES Without Drugs Or Herbs.. Click Here Now To See It

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.