Company MD Docked For Alleged N21m Oil Fraud In Kano

The Economic and Financial Crime Commission, EFCC, has arraigned a construction company’s managing director for alleged misappropriation of funds amounting to 21 million naira.

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A statement issued today by EFCC’s spokesman, Mr. Dele Oyewale, says Salisu Suleiman, the managing director of Faris Construction Company Limited, was arraigned on Tuesday, December 12, 2023, before Justice Hadiza Suleiman of the Kano State High Court sitting in Kano.

Suleiman was accused of the dishonest misappropriation of the said sum being payment for the supply of 125,000 litres of Automotive Gas Oil, AGO, to his construction site in Nguru Local Government Area of Yobe State, by SID Oil and Gas Limited.

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By the act, the defendant committed an offence contrary to Section 308 of the Penal Code Law and punishable under Section 309 of the same law.

The defendant pleaded not guilty to the charge when it was read to him, prompting prosecution counsel, Aisha Tahar Habib, to pray the court for a trial date, while the defence counsel, Mardiyya Alasan Dawaki applied for his bail.

Habib opposed the prayer of the defence counsel on the ground that the defendant had jumped an administrative bail earlier granted him by the EFCC.

Justice Suleiman remanded the defendant in EFCC’s custody and adjourned for hearing on the bail application.

Suleiman allegedly received 125,000 litres of Automotive Gas Oil, and diesel, on credit from the petitioner, S.I.D Oil and Gas Limited worth N21,000,000 (Twenty One Million Naira) on the ground that he will pay upon receipt of payment from the Yobe State Government for the supply.

He, however, breached the promise after the Yobe State Government had paid him, preferring to lie to the petitioner that he had received no payment from the State government.

Suspecting foul play, the petitioner petitioned the EFCC. Investigations revealed that the defendant had been paid by the Yobe State Government a long time ago, but misappropriated and diverted the money entirely for his personal use.

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