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Oil dealer faces N15 million theft, fraud charge

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Sahara Reporters

A 37-year-old oil dealer, Olusegun Oyalana, was arraigned in Lagos on Friday for allegedly obtaining petroleum products worth N15 million from an oil firm under false pretences.

Oyalana, whose address was not provided, is facing a two-count of conspiracy and stealing before an Igbosere Magistrates’ Court.

The Prosecutor, Assistant Superintendent of Police, George Nwosu, told the court that the accused and others at large committed the offences last month in Lagos.

Nwosu said that the accused dishonestly converted to his own use the sum of N15 million belonging to the complainant, Forte Oil Plc.

“The accused had a business deal with the complainant and instead of remitting money which was realised from the sale of the products into the complainant’s account, he converted it to his own use,” he said.

The offences contravened Sections 278 (1) (b) and 409 of the Criminal Law of Lagos State, 2011.

The accused pleaded not guilty to the charge.

The Magistrate, Mrs Folashade Botoku, granted the accused N1 million bail with two sureties in like sum.

She said that the sureties must be gainfully employed, must show evidence of tax payments to the Lagos State Government and have their addresses verified.

She adjourned the case until October 30 for mention.

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