Justice Lateefat Okunnu of the Lagos High Court Ikeja, has sentenced
Walter Wagbatsoma and Adaoha Ugo-Nnadi, owners of Ontario Oil and Gas
company, to 10 years in prison for fuel subsidy fraud. The duo were
found guilty of obtaining the sum of N754 million by false pretense
from the Federal Government purporting the money to be subsidy payable
to Ontario Oil and Gas Nigeria Limited.
Delivering judgement this morning, the presiding judge ordered the
accused persons and their company to refund N754 million being the
amount it defrauded the Nigerian government. The judge ruled that their
sentence would start counting from January 13th 2016.
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