N1.9bn Oil Subsidy Fraud: Wagbatsama, Others Lose Bid to Stop Trial

EFCC Press Release

Justice Lateefa Okunnu of the Lagos High Court today refused the application for stay of proceedings filed by Walter Wagbatsama, Adaoha Ugo-Ngadi and their Company, Ontario Oil and Gas Nigeria Limited, who are being prosecuted by the Economic and Financial Crimes Commission, EFCC, for allegedly defrauding the Nigerian Government to the tune of N1.9billion in unearned fuel subsidy.

The accused persons had through their counsel, approached the court with an application seeking a stay of proceedings pending the Court of Appeal decision on their action challenging the ruling of the trial court, which had earlier rejected their no-case submission.
Prosecuting counsel, Rotimi Jacobs, SAN, had urged the court to throw out the application for stay as it negate the spirit of the provisions of sections 40 of the EFCC Act and 273 of the 1999 Constitution.
In her ruling, Justice Okunnu upheld the prosecution’s argument and struck out the application.
Justice Okunnu adjourned the case to 24, 25 and 27 February, 2015 for continuation of trial.

Wilson Uwujaren

Head, Media & Publicity

26^th November, 2014