Alleged $75,000 Fraud: EFCC Witness Tells Court How Businessman Defrauded Oil Firm
An operative of the Economic and Financial Crimes Commission (EFCC), Felicia Paul, on Monday, March 16, 2026, narrated before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, how a businessman, Peter Otomewu, allegedly defrauded a petroleum services company, Virgin Forest Energy Limited, of $75,000.
The witness told the court that the defendant obtained the money under false pretences by claiming he had a vessel, “MT AYSU,” capable of transhipping petroleum products from a mother vessel.
The EFCC had earlier arraigned Otomewu and his company, Pebeto Enerji Limited, before Justice Dada on June 24, 2025, on a two-count charge of obtaining money by false pretences and stealing.
Prosecuting counsel, Owede Spiff, told the court that Otomewu and his firm allegedly committed the offences in 2018, adding that the representations made to the petitioner were false and that the money was never used for the stated purpose.
According to the prosecution, the defendants dishonestly converted the entire $75,000, property of Virgin Forest Energy Limited, for their own personal use.
The alleged offences contravene Sections 278, 278(1), and 411 of the Criminal Law of Lagos State, 2015, as well as Section 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Related Offences Act, 2006.
However, both defendants pleaded not guilty to the charges.
Led in evidence by the prosecuting counsel, Paul told the court that the first defendant presented himself to the petitioner as the owner of a vessel named MT AYSU, which he claimed could tranship petroleum products from another mother vessel.
She explained that based on the representation, the petitioner paid the defendant $75,000 in two instalments to facilitate the movement of petroleum products.
According to her, the agreed total sum for the project was $100,000, but the petitioner initially paid $50,000 in cash and later paid an additional $25,000.
“The defendant issued receipts for these payments but failed to complete the work,” she told the court.
Paul further stated that when the petitioner demanded a refund, the defendant repaid $25,000, leaving an outstanding balance of $50,000.
She added that during the course of investigation, it was discovered that the defendant’s company is registered with the Corporate Affairs Commission (CAC) but not with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the regulatory body for the sector.
The witness also told the court that the Nigerian Maritime Administration and Safety Agency (NIMASA) confirmed that the vessel MT AYSU is not registered in Nigeria and is not authorised to operate in Nigerian waters.
She further disclosed that additional inquiries revealed that a different vessel with a similar name is registered under the flag of Saint Kitts and Nevis.
Following the testimony, Justice Dada adjourned the matter until April 20, 2026, for the continuation of trial.
