Nigerian oil services firms deny fraud

ABUJA, October 10, 2017 – Nigeria’s Economic and Financial Crimes Commission (EFCC) filed charges against two oil services companies and their directors on Monday.

Danium Energy Services, Petrosol Energy and the companies’ directors are accused of defrauding Fidelity Bank of a total of NGN 7.8 billion (USD 21.7 million). The EFCC said the companies repeatedly claimed falsely to have diesel contracts with Total Nigeria to extract funds from the bank.

The two men, Kehinde Eliot Ogbor and Godwin Okoronkwo, denied the 10-count charges. Their bail hearing is set for Wednesday.

Nigeria has seen a series of corruption trials in recent months, with the most high-profile defendant being former Petroleum Minister Diezani Alison-Madueke.

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