TO REFUND N754 MILLION TO NIGERIAN GOVERNMENT
Admin l Thursday, January 26, 2017
LAGOS, Nigeria – A Lagos High Court sitting in Ikeja, the state capital today sentensed Managing Director of Ontario Oil and Gas Limited, Mrs Ada Ugo-Ngadi and its chairman, Walter Wagbatsoma to 69 years imprisonment for defrauding the Federal Government of Nigeria a total sum of N754million in oil subsidy transactions.
The 69 years jail is to run comcurrently. Walter Wagbatsoma was absent in court when Justice Lateefat Okunnu read her judgement. He is currently held in the United Kingdom on charges of £12 million National Health Service (NHS) Trust fraud.
Both convicts were dragged to court by the Economic and Financial Crimes Commission (EFCC) on a six count charge of conspiracy to obtain money by false pretences.
“For the count of conspiracy to commit forgery the defendants were sentenced to seven years in prison, for the offence of forgery the defendants are sentenced to eight years in prison,”Okunnu said.
The judge noted that the total sentenced passed was a total of 69 years for each of the defendants but the sentence was to run concurrently.
“ I hereby give an order of restitution to Ontario Oil and Gas Limited. The N754million which was defrauded by the company should be returned to the Federal Government,” the judge said.
After the sentence was read, counsel to Ugo-Ngadi, Mr Y.A Kadiri made an attempt to complain to Justice Okunnu about the treatment of his client by the EFCC.
