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A businessman, Peter Otomewu, along with his company, Pebeto Enerji Limited, was brought before the Ikeja Special Offences Court on Monday by the Economic and Financial Crimes Commission (EFCC) for allegedly defrauding a petroleum services company of $75,000.
The defendants faced a two-count charge of obtaining money by false pretenses and theft, as stated by the EFCC. Prosecutor M.S. Owede informed the court that the alleged offenses took place in 2018.
He claimed that Otomewu and his company fraudulently acquired $75,000 from Virgin Forest Energy Limited under the false claim that they possessed a vessel, MT AYSU, capable of transshipping petroleum products from a larger vessel.
The prosecutor asserted that this assertion was untrue and that the money was not used for the intended purpose. Otomewu and his firm were accused of unlawfully converting the $75,000 belonging to Virgin Forest Energy Limited for their own benefit.
The EFCC indicated that these actions violated 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.
Both defendants, appearing before Justice Mojisola Dada, pleaded not guilty to the charges when presented. Following their not-guilty pleas, Owede requested a trial date and asked the court to remand Otomewu in a correctional facility.
However, defense attorney Peter Ajabor requested bail for the defendants under lenient terms. Consequently, Justice Dada granted bail set at N50 million, requiring two sureties of equivalent value.
The court mandated that the sureties be gainfully employed and reside within the jurisdiction, with N50 million available in their bank accounts.
Justice Dada also ordered Otomewu's remand in the correctional center until the bail conditions are met. The case was adjourned to September 29, 2025, for the trial to begin.
