The Economic and Financial Crimes Commission is set to reopen a case against Gbolahan Obanikoro, son of former minister of state for defence, Senator Musiliu Obanikoro
– The case against Obanikoro is that of alleged subsidy fraud against an oil company, MOB Integrated Services Limited, which he heads
– The company only made one transaction verified as legitimate which is valued at N3,261,263,992.52
The Economic and Financial Crimes Commission (EFCC) is set to reopen a case of alleged subsidy fraud against an oil company, MOB Integrated Services Limited, which is headed by the son of the embattled minister of state for defense and foreign affairs, Senator Musiliu Obanikoro, Gbolahan Obanikoro.
The company was said to have made three transactions valued at N5,393,592,906.62.
Investigations, however, allegedly revealed that the company only made one transaction valued at N3,261,263,992.52 verified as legitimate.
The difference of over N2bn was said to have been allegedly diverted as MOB did not make the needed oil supply.
The Aigboje Imokhuede-led Presidential Committee on Verification and Reconciliation had referred MOB and about 47 other companies to the EFCC and the Special Fraud Unit of the Nigeria Police for investigation in 2012.
Sources at the commission said that after Obanikoro was appointed the Minister of State for Defence, the case was suspended indefinitely, adding that Gbolahan Obanikoro is the managing director of the said company and the company was among those given subsidy money.
“The company was given N5,393,592,906.62 for three separate transactions for fuel importation. However, only one transaction worth N3,261,263,992.52 was verified. We believe that the remaining money was diverted.
“The SFU started investigations into the matter but it was then referred to the EFCC under the leadership of Ibrahim Lamorde,” the source said.
Obanikoro’s two sons, Gbolahan and Babajide, are already under investigation by the commission as part of the probe into the $2.1bn meant for arms procurement.
EFCC had allegedly traced the sum of N4.75bn to the account of Silva McNamara Limited with links to the family of the former minister.
Investigations into the Obanikoros have been stalled due to the fact that they have all relocated to the United States.
A spokesperson for the family, said the allegation in question was an old one, adding that MOB Integrated Services had been cleared.