The Lagos Division of the Court of Appeal on Thursday upheld the judgment of the Lagos State High Court which on January 26 convicted and sentenced two oil marketers, Emmanuel Morah and George Ogbonna, owners of Rocky Energy Limited, to eight years imprisonment.
They were convicted by Justice Lateefa Okunnu on a 26-count amended charge bordering on conspiracy, obtaining by false pretence and forgery to the tune of N789.6million.
They, like several other suspects, committed the subsidy fraud during the Goodluck Jonathan administration in 2011.
The trial of Messrs Morah and Ogbonna started in 2012.
The charges were filed against them by the anti-graft agency, EFCC.
The judge also ordered the convicts to return the money which they fraudulently collected as subsidy to the Nigerian government.
However, dissatisfied with the judgment, the defendants approached the Court of Appeal to set aside the ruling of the lower court. Ruling on the appeal on Thursday October 25, J. Shagbaore Ikyegh, who led a panel of three justices, upheld the judgment of the Lagos State High Court and further ordered Rocky Energy Limited to remit the sum of N789,648,329.25 to the Nigerian government.
The convicts purportedly imported 10, 862 metric tonnes of petrol for which they were paid the sum of money by the Petroleum Support Fund, PSF.
However, investigation revealed that the documents used by the defendants were forged.
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.
TEXT AD: To advertise here . Call Willie +2347088095401...