The Economic and Financial Crimes Commission (EFCC) has declared Seun Ogunbambo, Managing Director of Fargo Petroleum and Gas Limited, wanted for his role in an alleged oil subsidy scam that defrauded the Nigerian government of approximately ₦976,653,110.28.
Newsonspot reports that according to a statement released by Dele Oyewale, EFCC’s Head of Media and Publicity, Ogunbambo disappeared after being granted bail while standing trial before the Lagos State High Court.
The case, which has drawn public attention due to its scale and implications, involves fraudulent claims for fuel importation under Nigeria’s subsidy regime. While Ogunbambo remains at large, his co-defendants – Mamman Nasir Ali and Christian Taylor – were convicted and sentenced to 14 years imprisonment each on Tuesday, May 27, 2025.
EFCC described Ogunbambo as light-complexioned, fluent in English and Yoruba, with a last known address at 2 Olamiyuyan Crescent, Ikoyi, Lagos State.
The Commission is appealing to the public for assistance, stating:
“Anybody having useful information as to his whereabouts should contact the Commission in its Lagos, Enugu, Kano, Gombe, Port Harcourt, Ibadan, Benin, Kaduna, Sokoto, Makurdi, Ilorin, Maiduguri, Uyo and Abuja offices.”
Ogunbambo’s flight has sparked renewed calls for judicial reforms and tighter bail regulations, especially in high-profile financial crimes. The EFCC has reaffirmed its commitment to ensuring that no suspect evades justice, urging citizens to play their part in aiding the process.
This case is one of many in the broader crackdown on subsidy fraud, a sector that has cost the country billions over the years through manipulated documents, phantom fuel deliveries, and collusion between private firms and corrupt officials.
