Ubah and other senior officers of the company – the Head of Trading, Nsikan Usoro; the Depot Manager, Godfrey Okorie; the General Manager, Operations, Chibuzo Ogbuokiri; and the Executive Director, Operations, Orji Joseph Anayo – are being held for alleged diversion of fuel subsidy payment by the Federal Government, Eagle Online reports.
Owumi’s decision was based on the application filed by the Commissioner of Police, Special Fraud Unit, Gbenga Ogunsakin, pursuant to Section 264 of the Criminal Justice Law 2011.
Ubah and the others were accused by the police to have committed the offences of “economic sabotage, obtaining money by false pretences, money laundering and forgery as well as stealing of N43.291 billion property of Federal Republic of Nigeria.”
Effiong Asuquo, a Superintendent of Police, told the court that the suspects obtained the money by falsely stating that the company imported and sold 538.74 million litres of Premium Motor Spirit during the 2011 fiscal year through 26 transactions.
Aside the 11 grounds for the remand request endorsed by the magistrate, the police also stated, “That the nature of the criminal act and the huge amount involved in the fraud constitutes the crime of economic sabotage and capable of undermining the security of Nigeria.”
The police further stated that the remand becomes necessary to prevent the accused from travelling out of the country and to give police officers the time to conclude investigation.
The police also provided a 13-paragraph affidavit deposed to by Francis A. Idu, a Chief Superintendent of Police, to support its request.
However, the defence counsel, Bode Olanipekun, pleaded with the court to admit his clients to oral bail.
The case was adjourned to October 31, 2012.
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Source : punchng[dot]com
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