Man Arraigned In Yola For N12.5m Oil Fraud By EFCC

The Gombe Zonal Command of the Economic and Financial Crimes Commission, EFCC, has  arraigned one Festus Agbomodion before Justice A.M. Ankaof, the Federal  High Court, sitting in Yola , Adamawa State.

He was  arraigned on Thursday,  January 24, 2024 on two- count charges bordering on intent to defraud and obtaining under false pretence to the tune of N12,500,000.00 ( Twelve Million Five Hundred Thousand Naira only) .

 Count one reads: That you Festus Agbomodion on or about 2nd of January, 2019 at Yola, Adamawa State, within the Jurisdiction of this Honorable Court, with intent to defraud did obtain the sum of N12,500,000 (Twelve Million, Five Hundred Thousand Naira only) from one Mr. Johnson Seun Femi under false pretence that the said sum was meant for the supply of two trucks of diesel to Bretrogeen Enterprises limited (A limited liability Company) which you knew to be false and hereby committed an  offence contrary to Section 1 (1)(a) and punishable in Section 1(3) of Advance Fee Fraud and Other Related Offences Act, 2006.  

 Another reads : That you Festus Agbomodion and Okeke Magnus sometime on or about 2nd of January, 2019 at Yola, Adamawa State, within the Jurisdiction of this Honorable Court, did retain the sum of N12,500,000 (Twelve Million, Five Hundred Thousand Naira only) from one Mr. Johnson Seun Femi as money for the supply of two trucks of diesel to Bretrogeen Enterprises limited (A limited liability Company) knowing or reasonably ought to have known that such fund formed part of a proceed of unlawful activity to wit, obtaining by false pretence and there by committed an offense contrary to Section 15 (2)(d) and punishable in Section 15(3) of the Money Laundering Act, 2011. 

 In view of his plea of " not guilty",   prosecution counsel , M.O..Labaran prayed the court for a trial date  while the defence counsel,  S.O. Akporido  informed the court of an existing bail application for the defendant.

 Justice Anka  thereafter  granted the defendant bail in the sum of Five Million Naira and one surety in like sum. The surety must be resident and own a landed property  in the defendant's community 

 The Judge remanded him in Adamawa Correctional Centre pending fulfilment of his bail conditions and adjourned the matter to February 29, 2024 for trial.