EFCC investigator testifies against businessman over alleged $75,000 oil fraud

An operative of the Economic and Financial Crimes Commission (EFCC), Mrs Felicia Paul, on Monday told an Ikeja Special Offences Court how a businessman, Peter Otomewu, allegedly defrauded a petroleum company of $75,000.

Otomewu and his company, Pebeto Enerji Ltd., are facing a two-count charge of obtaining money by false pretences and stealing. The defendants, however, pleaded not guilty to the charges.

The EFCC witness, while being led in evidence by the prosecutor, Mr Spiff Owede, told the court that the defendant obtained the money under false pretences by claiming he had a vessel, “MT AYSU,” capable of transshipping petroleum products from a mother vessel.

In her testimony, the witness said the first defendant presented himself to the complainant, Virgin Forest Energy Ltd., as the owner of a vessel named “MT AYSU,” which was to be used to transship petroleum products from another mother vessel.

She told the court that the complainant paid the defendant $75,000 in two instalments to facilitate the movement of petroleum products.

According to her, the total amount agreed for the project was $100,000, out of which the defendant received $50,000 in cash and an additional $25,000.

“The defendant issued receipts for these payments but failed to complete the work.

“Consequently, the complainant asked for a refund. The defendant repaid $25,000, leaving an outstanding balance of $50,000,” the witness the court.

The witness further testified that during the EFCC’s investigation, it was discovered that the defendant’s company was registered with the Corporate Affairs Commission (CAC) but not with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the sector’s regulator.

The EFCC investigator also confirmed to the court that the Nigerian Maritime Administration and Safety Agency (NIMASA) stated that the vessel was not registered in Nigeria and was not authorised to operate in Nigerian waters.

She added that further inquiries revealed that a different vessel with a similar name was registered under the flag of Saint Kitts and Nevis.

Justice Mojisola Dada adjourned the case until April 20 for the continuation of trial.

The EFCC had arraigned the defendants before the court on June 24, 2025. The prosecution alleged that they committed the offences sometime in 2018 in Lagos.

The prosecutor further alleged that the representations made by the defendant were false and that the money was never used for the stated purpose.

According to the EFCC, the alleged offences contravene Sections 278, 278(1), and 411 of the Criminal Law of Lagos State, 2015, as well as Sections 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Related Offences Act, 2006.