Isibor was arraigned sequel to a petition by the Economic and Organised Crime Office (EOCO), Ghana, alleging that the accused was into piracy, stealing and money laundering alongside a Ghanaian marketing firm, Auxesia Energy Limited. Isibor is the director of Earth Petroleum Development Limited. Isibor was arraigned yesterday before Justice Ibrahim Buba of the Federal High Court sitting in Lagos on a three-count charge bordering on conspiracy and illegal dealing in stolen crude oil.
The accused pleaded not guilty to the charge when read to him. The Head, Media and Publicity, Economic and Financial Crimes Commission (EFCC), Wilson Uwujaren, said during investigations, it was discovered that some Nigerian companies, Earth Petroleum Development Limited, Spiral Oil and Gas Limited, hijacked Vessel MT Sollueshing in March, 2013 and used it to convey 167,000 metric Low Pour Fuel Oil (LPFO) stolen from Nigerian creeks and transported to Ghana. Buba granted the accused bail in the sum of N500 million and two sureties in like sum.
The prosecution counsel, Haruna Abdulkadir, asked the court to remand the accused in prison custody pending the perfection of the bail terms, a prayer which was granted by Justice Buba. The judge adjourned the case till June 18 for the commencement of trial.
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