Court remands four directors of oil company over alleged £2.55bn fraud


A Federal High Court in Lagos on Thursday ordered the remand of four directors of Petrol Union Oil and Gas Company Ltd., over alleged £2.556 billion fraud.

The defendants are: Abayomi Kukoyi; Kingsley Okpala, Chidi Okpalaeze and Emmanuel Okpalaeze.

The judge, Mohammed Liman, ordered the remand of the defendants at a custodial centre after their arraignment on a seven-count charge of fraud preferred by the Economic and Financial Crimes Commission (EFCC).

The charge is marked FHC/L/46c/2020.

The defendants are charged alongside one Isaac Okpala, described as deceased.

They were alleged to have committed the offences from 1994 to 2007.

The anti-graft agency alleged that they fraudulently procured a Barclays Bank cheque for £2.556 billion made payable to Gladstone Kukoyi and Associates…



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