EFCC arraigns GMD of oil company over fraud

The Economic and Financial crimes Commission has arraigned the Group Managing Director of an oil marketing firm, Triumph Oil and Gas Madgascar Nigeria Limited, Ibrahim Olanrewaju Mahmud and charged hìm with attempt to defraud the Central Bank of Nigeria (CBN) to the tune of $100million.

He was arraigned before a High Court of the Federal Capital Territory (FCT) on a six-count charge, bordering on forgery of signatures of the CBN Govrnor, Godwin Emefiele, Special Assistant to the President, Sabiu Yusuf and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari.

Mahmud, who allegedly claimed to be a Deputy Governor in CBN, was said to have taken the said forged documents to the apex bank to demand for the payment of $100m for the contract he claimed his firm was awarded by the CBN.

He was said to have also claimed that his firm was engaged to monitor and supervise major Federal Government’s infrastructure projects, forfeited assets and government businesses, for which the CBN approved the payment of the $100m.

Upon confronted with Mahmud’s claims, the CBN was said to have referred the case to the EFCC for investigation, following which the investigating agency found that, not only was his firm not registered, the documents he paraded were of doubtful origin.

He has pleaded not guilty and was granted bail by Justice Halilu Yusuf and ordered to be returned to the Kuje prison following his inability to meet the bail conditions.

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