NIGERIA: Court Remands Oil Subsidy Scam Suspects In Custody

The Lagos Margistrate Court presided by Margistrate Martins Owunmi Thursday, October 11, 2012, ordered the Special Fraud Unit of the Nigeria Police Force to remand Dr. Patrick Ubah and his four employees in custody for economic sabotage in an ongoing investigation in "obtaining money by false pretense, stealing the property of Nigeria, money laundry and forgery. Ubah and his workers -- the Head of Trading, Nsikan Usoro; the Depot Manager, Godfrey Okorie; General Manager, Operations, Chibuzor Ogbuokiri; and the Executive Director, Operations, Orji Anayo -- have been accused of fifty-six billion naira fuel subsidy scam.

In another related separate incident at the same court, Owunmi also ordered the Special Fraud Unit of the Nigeria Police Force to remand Abdulkabir Aliu, Managing Director and Chief Executive of Matrix Energy Limited; his Operations manager, Yusuf Oyilola and his accountant, Adewale Akinde, for fifteen days until the ongoing investigation in an alleged over thirteen billion naira fraud is completed.

Meanwhile, the suspects who have not been charged with any offense were entitled to apply for bail before expiration of the remand order, said Owunmi, scheduling both cases for next hearing on October 31, 2012.