Fuel Subsidy Fraud: MD of Ontario Oil & Gas Bursts Into Tears After Being Sentenced to Prison (Photos)

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Just after a Lagos High Court in Ikeja pronounced its sentence on her for fuel subsidy fraud, the MD of Ontario Oil and Gas Limited, Adaoha Ugo-Nnadi burst into tears.

Adaoha crying after she was sentenced

 

Justice Lateefa Okunnu of Lagos High Court in Ikeja earlier today, sentenced Ada Ugo-Ngali, the Managing Director of Ontario Oil and Gas Limited and her co-defendant, Walter Wagbatsoma, the Chairman of the company, to 10 years in prison for fuel subsidy fraud.

 

The judge gave his final judgment, adding that the sentence would begin to count from January 13th, 2016.

 

In addition to the jail sentence, Ugo-Ngadi was ordered to refund N754 million being the amount she defrauded the Nigerian government.

 

Justice Okunnu while reading the judgment noted that the convicts defrauded the Federal Government of Nigeria N754million in oil subsidy transactions totaling N1.9billion.

 

 

Ugo-Ngadi fainted in court during her last appearance in court as the Judge was about to sentence her after finding her guilty in a N1.9billion oil subsidy fraud.

 

At the court today too, she burst into tears after the judge’s declaration of her sentence.

 

Reading the judgment January 13, 2017, the judge said; “The defendants defrauded the Federal Government of N340million in the third quarter of 2010 and N414million in the fourth quarter of 2010. According to a forensic audit by Akintola Williams Deloitte, the defendants did not remit an excess of N754 million to the Federal Government,” she said. 

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