EFCC declares man wanted over oil subsidy fraud

Abdullateef Fowewe

The Economic and Financial Crimes Commission has declared one Seun Ogunbambo, Managing Director of Fargo Petroleum and Gas Limited, wanted for allegedly defrauding the Federal Government of Nigeria to the tune of N976,653,110.28 through fraudulent oil subsidy claims.

A statement issued by Dele Oyewale, EFCC’s Head of Media and Publicity, noted that Ogunbambo was standing trial before a Lagos State High Court but absconded after being granted bail.

His disappearance follows the conviction of his co-defendants, Mamman Nasir Ali and Christian Taylor, who were both sentenced to 14 years in prison on Tuesday, May 27, 2025.

The EFCC described Ogunbambo as light complexioned, fluent in English and Yoruba, with his last known address listed as No. 2 Olamiyuyan Crescent, Ikoyi, Lagos.

“MR. SEUN OGUNBAMBO, Managing Director of FARGO PETROLEUM AND GAS LIMITED, is wanted by the Economic and Financial Crimes Commission, EFCC, for allegedly defrauding the federal government of Nigeria in bogus oil subsidy claims to the tune of Nine Hundred and Seventy Six Million, Six Hundred and Fifty Three Thousand, One Hundred and Ten Naira, Twenty Eight Kobo (N976, 653,110.28).

“He was standing trial before a Lagos State High Court but disappeared after being released on bail. His co-defendants, Mamman Nasir Ali and Christian Taylor, were convicted and sentenced to 14 years imprisonment each on Tuesday, May 27, 2025.

“Light complexioned Ogunbambo speaks English and Yoruba. His last known address is 2 Olamiyuyan Crescent, Ikoyi, Lagos.

“Anybody having useful information as to his whereabouts should contact the Commission in its Lagos, Enugu, Kano, Gombe, Port Harcourt, Ibadan, Benin, Kaduna, Sokoto, Makurdi, Ilorin, Maiduguri, Uyo and Abuja offices or through the hotline: +2348093322644 or by e-mail to: info@efcc.gov.ng or the nearest Police station,” EFCC had written.