NewStats: 3,263,720 , 8,181,148 topics. Date: Saturday, 07 June 2025 at 02:16 PM 4y11r

Ashirioluwa:
All he needs to do is to go ask Kalu, FFK, Saraki, Akpabio, and others how they were able to get off EFCC probes.

If he can the ruling party and knows people in the government, the case will soon be forgotten.

Politicans have one advantage, they can mobilze enough people to cause threats to national security

See how crowds of people prevented efcc from arresting bello and before him ibori..meanwhile the ers were threatening violence

Now imagine if efcc opens case files on tinubu, GEJ, buhari, obi and Obasanjo..Nigeria will be on fire. Fire.

If efcc must work, Nigerians must see that it is in their interest that their corruption laden leader is prosecuted. They must not see it as an attack on their tribe

Thewrath:
The “fugitive” can never be identified!

Just pin the fraud on a non existent “fugitive” as usual!

Read the post again. His name was clearly mentioned in the post

illicit:
Agba yahoo...

😎

Braa!! The mind to scam government

omoredia:
Which fugitive? People that Buhari knew and gave him his own cut?

Read the post again to understand the year when the fraud happened, then you will know it happens before Buhari regime.

Hush puppy's uncle done cast

Exactly why Tinubu removed fuel subsidy. And since he removed it, marketers especially fake and fraudulent ones have been shouting condemning and abusing Tinubu, but Guy Man no give a damn. Subsidy removal stays, no going back. I never knew that the rich also cry. Let's all get this book to buy.

MAYOWAAK:
There are three aspects of the “subsidy fraud”. One, a fuel importer could bring in 2000 metric tonnes and claim subsidy for 8,000 metric tonnes. “The mark-up will be shared down the line.” The money is just too much. Imagine the billions of naira available to be shared on a regular basis. So, the regulatory system is compromised and weakened.”

Two, NNPC always imports more than it has storage facility for. “So, the product is stored at private tank farms. If NNPC stores 30 million litres with your farm, you don’t have to for 30 million litres. There is a process by which you can for only 5 million litres as long as you know how to share the proceeds of the remaining 25 million litres with those who matter.” Ask yourself: how come our refineries have not been working for ages? Name another country that has four refineries that hardly work. Do you know how many emergency billionaires we have produced through turn-around maintenance contracts in the last 30 years?”

The third aspect of the fraud: “When they tell you the landing cost of petrol is N1,000 and the pump price is N800, it means the importer will get subsidy payment of about N200 per litre. Now, that is another fraud. There are different grades of PMS (petrol). They do not go for the same price. In the UK, for instance, the price of leaded petrol is different from that of unleaded. In Nigeria, we don’t distinguish between grades. We pay the same price. So, the landing cost of the lowest grade may be N900, but the importer still gets a subsidy payment of about N200 instead of N100 per litre. Do the math. Multiply that by millions of litres everyday and you will understand the fraud. too that the importers get paid for demurrage even if they don’t incur it. I can go on and on.”

To cap it all, I can tell you authoritatively that our daily PMS consumption is not as high as officially quoted. It is the biggest fraud ever. We keep calculating subsidy on the assumption that we consume 60 million litres a day. to always discount the official figures. It is good for your health.”

what was done to the people committing the "fraud"?

or where they ghosts?

nairalanda1:
People will see this and still be asking questions as to why GEJ wanted to remove subsidy in 2012. Why people like the NOI and SLS wanted subsidy gone. Too much crookery. And stopping it would mean war

( Tinubu removed subsidy because the cash was not there anymore, and IMF was fed up with us. No more loans. He did not remove subsidy because he was a strong leader as his propaganda people keep shouting)

your pains just started

MR BAWA WHAT OF OTHERS. YOU WANT TO TELL NIGERIANS THAT ONLY THIS MAN WAS A CULPRIT IN THESE FUEL SUBSIDY PROBLEMS

uNA PROTEST FOR OJOTA

UNA STILL PERPETUATE THE FRAUD OF SUBSIDY

UNA STILL GIVE US THE CALAMITY IN POWER NOW

DO YOU REALLY LOVE NIGERIA

NOT ALL OF YOU SHA

Na them and that’s why they are power crazy from the sniffer to the tout in the park

Didijiji:
uNA PROTEST FOR OJOTA

UNA STILL PERPETUATE THE FRAUD OF SUBSIDY

UNA STILL GIVE US THE CALAMITY IN POWER NOW

DO YOU REALLY LOVE NIGERIA

NOT ALL OF YOU SHA

Love which Nigeria , all na power grab for the easy life they are are accustomed to , thieves

123yes:
MR BAWA WHAT OF OTHERS. YOU WANT TO TELL NIGERIANS THAT ONLY THIS MAN WAS A CULPRIT IN THESE FUEL SUBSIDY PROBLEMS

Corruption fights back

This detailed offers a stark reminder of the depth and complexity of financial crimes and the immense effort required by law enforcement to pursue justice, even across borders. The Seatac Petroleum fraud case—led by Mr. Ogunbambo—exposes not only systemic abuse of corporate structures and financial institutions, but also highlights the role of forgery, insider manipulation, and international money laundering.

That Ogunbambo was able to fabricate documents ranging from marine insurance to certificates of origin, while recycling invoices between his own companies, underscores the sophistication of the fraud. The successful conviction of Fargo Petroleum and Gas Limited and Mr. Theck, after nearly a decade-long legal battle, is a testament to the dogged commitment of the EFCC and its prosecutors, particularly in the face of legal delays and Ogunbambo’s flight from justice.

Moreover, this case should serve as a wake-up call for Nigerian and international financial institutions to tighten due diligence, especially when dealing with high-value petroleum transactions. The use of a forged deed to secure multiple high-value loans is especially alarming.

This is more than just a fraud case; it's a landmark in the fight against economic and financial crime in Nigeria. It also demonstrates the necessity for cross-border cooperation, judicial resilience, and institutional integrity. Justice may have been delayed, but it was not denied.

if government has such info. @ their disposal, why not get them arrested?

Sunflower294:
I'm tired. I want to end it all. This suffering is too much for me. My baby has not eaten since morning. I don't have money to buy her nutribom. What more do I have to live for? I can't do this anymore. Please help me if you can. 814 94 768 31 Palmpay. my name is Mary Bassey

End it, stop this nonsense, we plenty on depression table, no add begging to it

SirBunky85:
your pains just started

Thank you for your concern and sympathy, my lady

nairalanda1:
People will see this and still be asking questions as to why GEJ wanted to remove subsidy in 2012. Why people like the NOI and SLS wanted subsidy gone. Too much crookery. And stopping it would mean war

( Tinubu removed subsidy because the cash was not there anymore, and IMF was fed up with us. No more loans. He did not remove subsidy because he was a strong leader as his propaganda people keep shouting)

Really?

He removed it, but your god fought tooth and nail to bring it back. He even led a protest to ensure that they subsidy stays. Why?

Elusive001:



Really?

He removed it, but your god fought tooth and nail to bring it back. He even led a protest to ensure that they subsidy stays. Why?

You are addressing the wrong person, good man.

2011 was when I woke up from ing subsidy after reading some more.

Go meet the apc ers. I have no use for them or for pdp and obidients like you.

And you should stop thinking that everyone that does not think like you s apc. It shows you have no powers of good reasoning.

And your comment shows you don't understand me or my ideology

The guy na learner when compared to Tinubu.

the policemen standing by the hilux are looking at him in awe . The EFCC are treating him like a king . He walks in front of them like they are his bodyguards. Shameless country

He should not stay on the run. Come back, APC and your sins will be forgiven . Worst case you pay 10 million fine and go home.

See some of the people who spoil our name abroad

Atiku Abubakar and Peter Obingo want subsidy to continue

So the book is all about Ogunnambo? I think there are alot of subsidy fraudsters scattered all over the country

Maxymilliano:


https://www.thecable.ng/revealed-how-oluwaseun-ogunbambo-forged-documents-claimed-n3-7bn-in-petrol-subsidy-fraud/?fbclid=IwQ0xDSwKuRUNleHRuA2FlbQIxMQABHhhEkjY54xDhmiRTUKKk5zgB0sA6d4dKKK8WeZUJ7y6fMFB7K-rLjZzzcHL8_aem_PlgfO08Xx8d2W3H3o7fMIg

Ogunbamwo needs to be prosecuted and jail for 100 years.

Omoluabi doesn't tolerate nonsense.

We are not I.pob

Tinubu till 2031.

I concur

Buccalcavity2:
So First Bank gave a $5m loan on a forged document. Make it make sense. There must be banker and govt collaborators. These individuals must be included. Else you are cutting a tree by its leaves.

Maxymilliano:


https://www.thecable.ng/revealed-how-oluwaseun-ogunbambo-forged-documents-claimed-n3-7bn-in-petrol-subsidy-fraud/?fbclid=IwQ0xDSwKuRUNleHRuA2FlbQIxMQABHhhEkjY54xDhmiRTUKKk5zgB0sA6d4dKKK8WeZUJ7y6fMFB7K-rLjZzzcHL8_aem_PlgfO08Xx8d2W3H3o7fMIg

He obviously didn't act alone, otherwise they'd have used InterPol to track him. People in power or close to power would be exposed if he was arrested.

KennethOkonkwo:

Whatever reason,he removed fuel subsidy as promised by him,Peter OBI and ATIKU.

You can whip up any narrative to suit your agenda

Maybe Obi and Atiku would have removed the subsidy without telling lies of being a bold leader and all what not, just like Tinubu and his ers are doing.


Just learn how to accept the truth and live with it, that's all he is trying do for you.

This one level thievery is too much

nairalanda1:
Something Nigerians should realize is that free government money always attracts corruption

Also, subsidy had to go because the cost of refining petrol always rises. Now technologies in refining are always coming in. Newer cars no longer use petrol that was refined in say 1980..because standards change. when dangote was saying his refinery refined petrol at E5 standard. Such did not exist before 1992. And there is even e10, and to that would cost money.

Even if we commot corruption, as we should, the price of fuel would keep rising because of the fact technology is dynamic. And so would subsidy costs.

And to cut subsidy costs we was importing subsidtandard fuel because it was cheaper to make. And thus subsidize. If we were importing standard, it would have been difficult to pay for subsidies


People abuse me and call me names for ing subsidy removal without realizing that it is not about oppression or ing useless government. It is not about keeping Nigerians poor. Petrol as is is very expensive to refine. Meanwhile, sane countries use tax revenues from income tax to subsidize fuel for the poorest of the poor. Nigeria wey 20% of revenue is from tax?


But call me oppressor, like the immature people you are. Be like you no want to face cold reality

There was a good time to remove it when the effects would not have been as drastic as it is now but certain elements resisted it vehemently then so...

omoredia:
Which fugitive? People that Buhari knew and gave him his own cut?

Buhari in 2012?