The Court of Appeal, Abuja, on Tuesday, November 24, 2015 reserved
judgment in the case involving Yanaty Petrochemical Limited , an oil marketing
company, over an alleged N1, 840, 768, 720 petroleum subsidy fraud.
The Economic and Financial
Crimes Commission, EFCC, is asking the appellate court to set aside the judgment
of Justice Adeniyi Ademola of the Federal High Court, Abuja, that all
investigations into the alleged petroleum subsidy fraud against the defendant
had been concluded.
Yanaty’s Managing Director,
Elias Adeojo, was given approval by the Petroleum Products Pricing
Regulatory Agency, PPRA to import 30,000 tons of prmium motor spirit, PMS under
the Petroleum Support Scheme in the first quarter of 2011.
The defendant
claimed he imported 31, 256 .992 metric tons equivalent to 42, 171, 630
million litres in March, 2011 via MT Beaver.
Yanaty purportedly
discharged the product at Lister Oil Jetty, Lagos, which is managed by Oando
Marketing Plc.
As a result, Yanaty
allegedly received the sum of N2, 731, 942, 103.73 as subsidy for purportedly
discharging 42, 773, 279 million litres of PMS.
However, during
investigation, Oando, operator of Lister oil jetty, disclosed the MT Beaver
discharged only 10, 187.353 metric tons, which is equivalent to 13, 952.926
million litres) of PMS for Yanaty, as opposed to 31, 256.992 it claimed to have
discharged.
Yanaty, therefore,
allegedly received the sum of N1, 840,768,720(One Billion Eight Hundred and
Forty Million, Seven Hundred and Sixty Eight Thousand, Seven Hundred and Twenty
Naira) as unearned subsidy from the
Federal Government..
Counsel to the defendant,
Michael Anache, had filed a case against the PPRA and its Executive Secretary
before Justice A. R. Muhammed of the Federal High Court, Abuja, seeking a
declaration that all investigations against them by law enforcement agencies
had been concluded.
Though the EFCC was not
joined in the suit before Justice Muhammed, judgment was given in favour of
Yanaty.
Also, in an effort to
prevent further investigation into its activities, Yanaty, thereafter, filed
another case against the EFCC before Justice Adeniyi Ademola of the Federal
High Court, Abuja, seeking an interpretation of the judgment delivered by
Justice Muhammed.
The defendant also urged
Justice Ademola to rely on the earlier judgment delivered by Justice Muhammed
declaring that all investigations against it( Yanaty) had been concluded.
However, while moving his
plea at Tuesday’s sitting, counsel to EFCC, Sylvanus Tahir, told the court that
EFCC was not joined in the first suit before Justice Muhammed.
In his response, counsel to
defendant, Bolaji Ayorinde, SAN, told the court that Anache, who represented
the defendant in the suit before Justice Muhammed, had written to EFCC to stop
further investigation because the matter was before another court.
However, appellant’s
counsel, Tahir, told the court that ‘‘at the time they (Yanaty) filed the first
suit, they were aware that there was an ongoing investigation. We started our
investigation in February, 2012, but they filed their case sometime in June,
2012 and did not join us in the suit.’’
According to him, ‘‘As far
as we are concerned, we have not concluded any investigation. They have
not furnished any court with any evidence to show that any investigation had
been concluded.’’
He, therefore, prayed the
court to set aside the judgment earlier delivered by Justice Ademola.
Tahir maintained that ‘‘The
PPRA and its Executive Secretary, who are the defendants in the first suit,
have appealed, but we are not even concerned about that. We are at the Appeal
court over the case they brought before Justice Ademola of the Federal High
Court, Abuja. No law enforcement agency has concluded any investigation.
It is either the EFCC or Special Fraud Unit that is assigned with
responsibility of investigating petroleum subsidy fraud.’’
After listening to both
counsel, Justice Tinuola Akomolafe Akomolafe-Wilson, reserved judgment in the
case..
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