MANAGING DIRECTOR OF FARGO PETROLEUM LIMITED, SEUN OGUNBAMBO ON THE RUN FOR FUEL SUBSIDY FRAUD

Seun Ogunbambo This fuel subsidy I making people steal a whole lot of money, imagine this man has stolen 2billion naira …….kai 2billion!!!!!!! What a shame!! What about the So-Called Cabals that just sits in their house and the money is just entering their bank account!!!! What a pity???? What is going to be the future of my dear country- Nigeria!!!!! I feel so disappointed and dejected when my age-mates tell me how they going to mis-use funds when they get into power!! every fresher that want s to go into politics now has the mind of stealing…… now the police are pursuing this just took his own share of the loot when they are supposed to be arresting the real cabals……………………….. Stella Oduah is still in her house eating chicken even when she hasn’t even be able to account for all that going on the aviation sector……………… now we’re not supposed to be saying GOD HELP AND FORGIVE NIGERIA………………………All shall be well in JESUS NAME!!!!!!!!!! AMEN OHHH Insha Allahu. Meanwhile, The Special Fraud Unit, Ikoyi, Lagos State, has declared the Managing Director of Fargo Petroleum Limited, Seun Ogunbambo, wanted. The unit, which is a department of the Nigeria Police Force that investigates white collar crime, said Ogunbambo, was wanted in connection with the fuel subsidy payment fraud. A statement by the SFU Commissioner of Police, Mr. Tunde Ogunsakin, said Ogunbambo allegedly presented forged documents to receive payment of N2bn in subsidy claims from the Federal Government of Nigeria. It read in part, “A petition from the Presidential Committee on Verification and Reconciliation of Fuel Subsidy Payments to the SFU alleged that Eurafric Oil and Coastal Services Limited was granted permit to import petrol between 2010 and 2011. “The company claimed that it imported 85,519,068 litres of petrol into the country in six transactions. Based on this, it applied for payment and N6,130,006,149.30 was paid as subsidy by the Federal Government.” The petition said it was later discovered that Eurafric did not execute the transaction as claimed, but had traded off the permit to a third party company, Tubbs Marine Services Limited, for N65m. It was alleged that Ogunbambo did not import any product based on the permit, but allegedly arranged forged documents with which he applied and received payment of over N2bn. “The suspect is on the run. All efforts made to locate him at his last known address at No. 2, Olamijuyin Avenue, Parkview Estate, Ikoyi, Lagos, and 95 Awolowo Road, Ikoyi, proved abortive. “He is hereby declared wanted by the office of the Commissioner of Police, Special Fraud Unit, 13, Milverton Road, Ikoyi, Lagos. Anybody with useful information regarding his whereabouts should contact the SFU,” the statement added.