The Nation Newspaper

Tag: Olarenwaju Olalusi

  • Judge vacates arrest warrant for oil marketers

    Justice Lateefat Okunnu of a Lagos High Court, Ikeja, on Wednesday discharged the bench warrant issued against two oil marketers, Opeyemi Ajuyah and Olarenwaju Olalusi.

    The warrant for the arrest of the oil marketers was issued on Tuesday following their failure to appear in court without good reasons.

    At the resumed trial on Wednesday, the defendants appeared in court, accompanied by their counsel.

    The development made Justice Okunnu to discharge the warrant for their arrest.

    Ajuyah and Olalusi are standing trial over alleged N1.1 billion fuel subsidy fraud.

    They were charged alongside Abdullahi Alao, son of prominent businessman, Alhaji Abdullazeez Arisekola-Alao by the Economic and Financial Crimes Commission (EFCC).

    They are facing an eight-count charge bordering on conspiracy, obtaining money by false pretences, forgery, uttering and use of false documents.

    Counsel to the defendants, Dr. Joseph Nwobike (SAN) and Mr. Oludare Falana apologised for their absence in court the previous day.

    They told the court that their clients were not aware that the date had been set aside for the proceedings.

    The lawyers had prayed the court to discharge the arrest warrant issued against the two defendants.

    Counsel to the EFCC, Mr. Ben Obi, did not oppose the oral application to vacate the warrant.

    The judge said that Alao’s counsel, Mr. Aderemi Oguntoye, ought to have informed the other defendants that the date had been fixed for the hearing of the application.

     

     

  • How Arisekola’s son, others obtained subsidy fund – Witness

    A Lagos High Court, Ikeja, heard on Wednesday how three oil marketers, including Abdulai Alao, son of an Ibadan- based business mogul, Alhaji Abdulaziz Arisekola- Alao forged documents to obtain N1.1 billion fuel subsidy payment from the Petroleum Subsidy Fund.

    The other two oil marketers are – Opeyemi Ajuyah and Olarenwaju Olalusi while their oil companies are Majope Investment Limited and Axenergy Limited.

    A prosecution witness, Mr. Oliver Chineke, told the court presided by Justice Lateefat Okunnu that the document used to commit the fraud did not emanate from his comapny, Q and Q Control Marine Services Nigeria Limited.

    The witness said his company was contracted by Oando Oil and Gas Plc to inspect the quantity of products brought in by a vessel, MT Brave on behalf of Majope Investment Limited.

    Chineke, a former Lagos branch manager of Q and Q Control Marine Services Nigeria Limited, who was led in evidence by the counsel to the Economic and Financial Crimes Commission, Mr. Francis Usani , told the court that he delegated one of his company’s surveyor, Mr. Mohammed Adedapo to inspect the vessel that brought the product.

    Chineke, who corroborated what Adedapo had earlier told the court said that it was discovered that out of the 15,000 metric tonnes of Premium Motor Spirit (PMS) brought in, only 4,000 metric tonnes was discharged at the Lister Jetty in Apapa between January 22 and 23, 2011.

    He said the remaining 11 metric tonnes of PMS remaining in the vessel was taken away.

     

     

  • How Arisekola’s son, others perfected subsidy scam – Witness

    How Arisekola’s son, others perfected subsidy scam – Witness

    Three oil marketers, Abdullahi Alao, Opeyemi Ajuyah and Olarenwaju Olalusi were on Wednesday alleged to have forged the documents with which they perpetrated N1.1 billion fuel subsidy fraud.

    A prosecution witness, Mr. Mohammed Adedapo, made the allegation while testifying at the resumed trial of the marketers before Justice Lateefat Okunnu of a Lagos State High Court, Ikeja.

    The marketers and their firms, Axenergy Limited and Majope Investment Limited were charged to court by the Economic and Financial Crimes Commission (EFCC) over alleged subsidy frauds.

    Adedapo, who is an inspector of petroleum products of Q and Q Control Marine Services Nigeria Limited told the court that Alao, who is the son of Ibadan business mogul, Abdulazeez Arisekola- Alao and other defendants allegedly obtained subsidy for 15,000 metric tonnes of petroleum products as against the 4,000 metric tonnes of petroleum products that was imported.

    The witness said the discharge was done at Lister Jetty in Apapa between January22 and 23, 2011.

    Led in evidence by EFCC counsel, Mr. Francis Usani, the witness said Q and Q was contracted by Oando Oil and Gas Plc to inspect the quantity of products brought in by a vessel, MT Brief on behalf of Majope Investment Limited.

    Adedapo maintained that the vessel that brought the petroleum products allegedly discharged about 4,000 metric tonnes of the products into the facility while it took away the remaining quantity of the product.

    He claimed that following the discrepancy discovered in the transaction, he wrote a protest letter to the captain of the ship to complain and state the fact of the transaction.

     

     

  • Subsidy scam: EFCC commences trial of Arisekola-Alao’s son

    Subsidy scam: EFCC commences trial of Arisekola-Alao’s son

    The Economic and Financial Crimes Commission on Monday began the trial of Abdullahi Alao, son of prominent businessman, Alhaji Abdullazeez Arisekola-Alao, before a Lagos High Court in Ikeja.

    Abdullahi Alao and two others alongside their companies were charged before Justice Lateefat Okunnu for fraudulently obtaining N1.1 billion fuel subsidy payment from the Federal Government.

    The other two oil marketers are Opeyemi Ajuyah and Olarenwaju Olalusi while their companies are Majope Investment Limited and Axenergy Limited.

    At the opening of trial before the court presided by Justice Okunnu on Monday, the EFCC called its first witness, Mrs. Brenda Ataga, an employee of Oando Oil and Gas Plc, to testify against the defendants.

    The witness, who was led in evidence by EFCC counsel, Mr. Francis Usani, said Oando had entered into an agreement with Majope Investment in 2010 for the supply of 15,000 metric tonnes of Premium Motor Spirit (PMS).

    Ataga said Majope was to discharge the products at the Lister Jetty in Apapa that was being used as a tank farm by Oando before January 4, 2011.

    According to her, Oando appointed a surveyor, Q and Q Control Services Limited to inspect the products when it was brought by Majope Investment.

    “At the end of the day, instead of supplying the 15,000 metric tonnes as agreed, Majope Investment Limited discharged about 4,700 metric tonnes into the facility,” she claimed.

    She said Oando Oil and Gas Plc paid Majope Investment Limited about N320 million for the 4,700 metric tonnes of PMS discharged into its facility.

    Ataga said Ajuyah later told her that the business relationship was suspended due to the cost of demurrage the vessel had incurred off-shore.