The Economic and Financial Crimes Commission (EFCC) has arraigned a vessel, MT Ostria, along with three individuals before Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, over the alleged theft of 13 million litres of Premium Motor Spirit (PMS) belonging to NNPC Retail Limited.
The defendants, identified as Captain Raymundo A. Panaligam, Chief Officer Roneno Villarin, and Vincent Wayas, an inspector representing NNPC Retail through the firm GMO, were accused of conspiring to steal the petroleum product in January 2024 in Lagos. The EFCC said their actions resulted in the unlawful diversion of about 13,324,000 litres of PMS valued at over ₦12 billion.
According to the charge sheet, the accused persons dishonestly took 9 million litres of PMS on or about January 17, 2024, and later stole an additional 3 million litres from the company. The anti-graft agency said the offences contravene Sections 411 and 280 of the Criminal Law of Lagos State, 2015, and are punishable under Section 287 of the same law.
During the court session, all defendants pleaded not guilty to the four-count charge. Prosecution counsel, Bilikisu Buhari, urged the court to remand them in a correctional facility pending trial, arguing that they posed a flight risk and could abscond if granted bail.
However, defence counsel informed the court that bail applications had already been submitted and requested that the defendants remain under existing EFCC administrative bail. After considering the submissions, Justice Dada ruled that the accused should continue on the EFCC bail conditions pending further proceedings.
The judge then adjourned the case to November 17 and 27, 2025, for the commencement of trial. The EFCC maintained that the case underscores its resolve to clamp down on economic sabotage in Nigeria’s oil and gas sector.
