EFCC Takes Legal Action Against Yola Resident Over Alleged N12.5m Oil Fraud

EFCC Takes Legal Action Against Yola Resident Over Alleged N12.5m Oil Fraud

The Gombe Zonal Command of the Economic and Financial Crimes Commission has brought Festus Agbomodion before Justice A.M. Anka at the Federal High Court in Yola, Adamawa State. Agbomodion faced charges related to the intent to defraud and the acquisition of money under false pretenses, amounting to N12,500,000.00 (twelve million five hundred thousand naira only)……..CONTINUE READING

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One of the charges, count one, stated that on or about January 2, 2019, in Yola, Adamawa State, Festus Agbomodion, with the intent to defraud, obtained the sum of N12,500,000 from Mr. Johnson Seun Femi under false pretense. The false representation involved claiming that the money was meant for the supply of two trucks of diesel to Bretrogeen Enterprises Limited, a limited liability company, which Agbomodion knew to be untrue. This act contravened Section 1 (1)(a) and is punishable under Section 1(3) of the Advance Fee Fraud and Other Related Offences Act, 2006.

Another count accused Festus Agbomodion and Okeke Magnus of retaining the sum of N12,500,000 from Mr. Johnson Seun Femi on the same date and location. This money, purportedly for the supply of diesel, was retained with the knowledge or reasonable awareness that it formed part of the proceeds of unlawful activity, specifically obtaining by false pretense. This constituted an offense under Section 15 (2)(d) and is punishable under Section 15(3) of the Money Laundering Act, 2011.

During the court proceedings, the prosecution lawyer, M.O. Labran, requested a trial date following the defendant’s plea of “not guilty,” while defense attorney S.O. Akporido informed the court about the defendant’s previous bail application.

Subsequently, Judge Anka granted bail to the defendant in the sum of five million naira, with an additional one million naira required from one surety. The surety was mandated to reside in the defendant’s neighborhood and possess landed property there. Until the bail conditions were met, Festus Agbomodion was remanded in the Adamawa Correctional Centre. The trial was adjourned to February 29, 2024.

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