Efcc Declares Oil Executive Wanted Over N976m Fuel Subsidy Fraud

The Economic and Financial Crimes Commission (EFCC) has declared Seun Ogunbambo, Managing Director of Fargo Petroleum and Gas Limited, wanted for allegedly defrauding the Nigerian government of ₦976.65 million through fraudulent subsidy claims.

In a public notice issued on Friday, the EFCC described Ogunbambo as a fugitive who absconded while on bail during his trial at the Lagos State High Court.

According to the statement signed by EFCC spokesperson Dele Oyewale, Ogunbambo was being prosecuted alongside Mamman Ali and Christian Taylor. Both co-defendants were convicted and sentenced to 14 years in prison each on May 27, 2025, for their involvement in the scheme.

The commission noted that Ogunbambo jumped bail and has since refused to return to court. The EFCC cautioned the public against harbouring him.

The fraudulent claim—totaling ₦976,653,110.28—was reportedly filed as payment for petroleum products that were never supplied.

Described as light-skinned and fluent in English and Yoruba, Ogunbambo was last traced to No. 2 Olamijuyuan Crescent, Ikoyi, Lagos.

The EFCC urged anyone with information on his whereabouts to report to any of its offices located in Lagos, Enugu, Kano, Gombe, Port Harcourt, Ibadan, Benin, Kaduna, Sokoto, Makurdi, Ilorin, Maiduguri, Uyo, or Abuja.