Fuel Subsidy scam: MD of Ontario Oil and Gas Limited breaks down in tears after 10 years jail sentence
The Managing Director of Ontario Oil and Gas Limited, Mrs. Ada Ugo-Ngali, has been sentenced to 10 years imprisonment by a Lagos State High Court in Ikeja for her role in fuel subsidy fraud.
Ugo-Ngali was, on January 13, 2017, found guilty of fleecing the Federal Government of N754m. She slumped in court before the judge could pass her judgment.
“The defendants defrauded the Federal Government of N340m in the third quarter of 2010 and N414m in the fourth quarter of 2010,” Justice Okunnu ruled while convicting the company’s Chairman, Mr. Walter Wagbatsoma and Ngo-Ngali two weeks ago.
“According to a forensic audit by Akintola Williams Delloitte, the defendants did not remit an excess of N754m to the Federal Government.
“The first defendant knowingly received the sum in excess of what the fourth defendant (Ontario Oil and Gas Limited) was entitled to.
“The second defendant is the MD of the company, she is the alter – ego of the fourth defendant and was aware of the going ons of the company.”
Justice Okunnu handed down the judgment on Ugo-Ngali and Wagbatsoma on Thursday morning.
The judge also ordered the refund of the N754m to the Federal Government.
Ngo-Ngali appeared at the courthouse in a wheelchair from LUTH, where she was said to have been receiving treatment.
Justice Okunnu refused to grant the defence counsel’s plea that the sentence should be non-custodian in view of his client’s health.
The judge subsequently ruled that the convict be subjected to a cumulative jail term of 69 years, which would run concurrently for only 10 years.
She said the jail term would begin to read from January 13, 2017, when Ngo-Ngali and her accomplices were first pronounced convicted.
Wagbatsoma is said to be currently under house arrest in the United Kingdom, where he is being held for money laundering, relating to a £12m National Health Service Trust fraud.
