Court okays EFCC’s prosecution of £2.6b refinery fraud case

has dismissed a no-case application filed by three directors of an oil firm, Petro Union Oil and Gas Limited, who are on trial over an alleged £2.6 billion fraud.

The Economic and Financial Crimes Commission is prosecuting Kingsley Okpala, Chidi Okpalaeze and Emmanuel Okpalaeze on allegations of conspiracy, obtaining money by false pretence, attempt to steal and forgery. He argued that all investigations by Union Bank, Central Bank, Bankers’ Committee and the EFCC confirmed that the defendants perpetrated the acts.

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