EFCC arrests syndicate for N115 million oil scam (PHOTOS)

by Azubuike Azikiwe

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The Economic and Financial Crimes Commission, EFCC, is set to arraign Emmanuel Owoicho, Managing Director, Owoema Resources Limited and five others over an alleged N115 million oil deal.

Others are Michael Morowei Oghenemi, Managing Director Standard Allied Universal Concept Limited; Emeka Achielefu Nwangwa, Managing Director, Ann Petroleum Investment Company; Parbor Wariowei, Managing Director, Alien Logic Ways Unique Services; Ogboyomi Bartholomew Taiye, Managing Director, Unique Energy Systems Limited and Joseph Sunday Odega, Managing Director, Calibrate Inspection Services Limited.

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A statement released on Wednesday, February 4, by the Head, Media & Publicity of the commission, disclosed that the suspects, who operate as a syndicate, among other things, allegedly approached Bascom Energy Limited that they had a consignment of Bonny Light Crude Oil from the Nigeria National Petroleum Corporation, NNPC, for sale.

The company was said to have unsuspectingly, entered into an agreement with the syndicate, who collected money up to N115 million for the crude oil which was never supplied.

According to the EFCC, after the conclusion of its investigation into the matter, the suspects will be arraigned in court.

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