The Economic and Financial Crimes Commission (EFCC) has declared Seun Ogunbambo, Managing Director of Fargo Petroleum and Gas Limited, wanted for allegedly defrauding the Federal Government of over N976 million through false subsidy claims.
According to a public notice issued on Friday, Ogunbambo jumped bail while on trial before a Lagos State High Court and has since disappeared from authorities' radar. The EFCC stated that he fraudulently claimed N976,653,110.28 as payment for petroleum products that were never delivered.
Co-defendants Already Sentenced
The anti-graft agency revealed that Ogunbambo was standing trial alongside Mamman Ali and Christian Taylor, who have both been convicted and sentenced to 14 years imprisonment by the court on May 27, 2025.
"The suspect vanished after being granted bail and has since failed to appear in court," EFCC spokesperson Dele Oyewale said, urging the public not to shield the fugitive.
Ogunbambo, described as light-skinned and fluent in English and Yoruba, was last traced to 2, Olamijuyuan Crescent, Ikoyi, Lagos. The commission has appealed to anyone with information about his whereabouts to contact any of its offices across the country.
This case represents another chapter in Nigeria's ongoing battle against corruption in the petroleum sector, where subsidy fraud has cost the nation billions of naira over the years.
The EFCC continues to intensify efforts to bring perpetrators of subsidy fraud to justice, as demonstrated by the successful prosecution of Ogunbambo's co-defendants.
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