Lagos court jails man, fines company over N822m oil supply fraud

A Lagos State Special Offences Court sitting successful Ikeja has convicted and sentenced Minnis Uchenna Howard and his company, Howard Minnis Asset Management Limited, implicit the fraudulent conversion of N822,422,260 meant for the acquisition of basal oil.

The condemnation followed the palmy prosecution of the lawsuit by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) earlier Justice R. A. Oshodi connected Friday.

The anti-graft bureau said successful a connection that the defendants were initially arraigned connected November 30, 2023, connected a two-count complaint bordering connected obtaining by mendacious pretence and stealing. They, however, pleaded not blameworthy erstwhile the charges were archetypal work to them.

During the trial, the prosecution, led by M. K. Bashir, called 4 witnesses and tendered respective documents arsenic exhibits, portion the defence presented 2 witnesses.

The EFCC said the defendants were aboriginal re-arraigned connected July 3, 2026, connected an amended one-count charge.

The complaint read: “That you, Minnis Uchenna Howard and Howard Minnis Asset Management Limited, sometime successful 2023 astatine Lagos, wrong the jurisdiction of this Honourable Court, dishonestly converted to your ain usage the sum of N822,422,260.00, spot of Krystal Lubes Limited, paid to you for the acquisition of 900,000 litres of SN900 Base Oil and 500,000 litres of SN500 Base Oil, thereby committing an offence contrary to Section 28...