Update On MD Of Ontario Oil And Gas Ltd, Ada Ugo-Ngadi's 10 Years Jail Term Over Fuel Subsidy Fraud

A Lagos High Court in Ikeja today sentenced Walter Wagbatsoma and Adaoha Ugo-Nnadi to 10 years in prison for fuel subsidy fraud.

The judge said the sentence would start to count from January 13, 2016. She also ordered restitution for Ontario Oil and Gas, and asked the company to refund N754 million being the amount it defrauded the Nigerian government.

Mrs. Ugo-Nnadi, Mr. Wagbatsoma, and their company, Ontario Oil and Gas, were convicted on an eight-count amended charge of fuel subsidy fraud before the Ikeja Division of the Lagos High Court.