An Ikeja High Court seating in Lagos before trail Judge Lateefat Okunnu, has ordered for the arrest of Abdullahi Alao, son of prominent businessman, Abdullazeez Arisekola-Alao.
According to the information available to www.theoctopusnews.com, the arrest warrant was issue by the judge following the non appearance of Alao, for his trail over alleged fuel subsidy fraud running into N1.1 billion.
The court, stated that Alao did not give a reasonable reason for being absent, and as such he should be arrested.
Alao, is being prosecuted alongside two other oil marketers Opeyemi Ajuyah and Olarenwaju Olalusi.
Two companies – Majope Investment Ltd. and Axenergy Ltd. – owned by the accused, are also standing trial.
They are facing an eight-count charge bordering on conspiracy, obtaining money under false pretences, forgery, uttering and use of false documents to fraudulently obtain money from the Federal Government.
The Economic and Financial Crimes Commission (EFCC) alleged that Alao’s companies imported about 4,000 metric tonnes of petroleum products but obtained subsidy payment for 15,000 metric tonnes.
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