The police arraigned the Chairman of Masters Energy Oil and Gas Limited, Uche Ogah, and an ex-employee of UBA, Deji Somoye, before a Tinubu Magistrate’s Court, Lagos, for alleged fraud.
The oil firm and the bank were also joined in three counts bordering on forgery and conspiracy preferred against the defendants by the police.
The police said Ogah allegedly forged a Memorandum of Understanding between Masters Energy Oil and Gas Limited and Mut-Hass Petroleum Limited sometime in March 2011.
He and others said to be at large were also accused of forging the signature of one Mrs Bridget Adeosun. Punch reports that the alleged forgery was reportedly committed in Ikeja, Lagos.
The police also alleged that the bank aided Masters Energy Oil and Gas Limited to open an account in the name of Mut-Hass Petroleum to perpetrate a fraud without applying its internal control procedures in the opening of the account.
The police had claimed that UBA allowed the said account to be opened sometime in 2011 at its regional office in Palmgrove, Lagos, in breach of the provisions of the Financial Institutions Act 2004.
The defendants were brought before a Chief Magistrate, Mrs. Kikelomo Ayeye, by a police prosecutor, ASP Henry Obiazi. He told the court that the offences contravened sections 363 (3)(u), 408 and 409 of the Criminal Law of Lagos State, 2011.
When the charges were read out, the defendants pleaded not guilty and were admitted to bail in the sum of N200,000 each with one surety each in like sum.
The case was adjourned till August 4, 2016, for trial.
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