Seun Ogunbambo, managing director of Fargo Petroleum and Gas Limited, has been declared by the Economic and Financial Crimes Commission (EFCC) for alleged ₦976.6 million oil subsidy fraud.
According to a statement released Friday by EFCC’s Head of Media and Publicity, Dele Oyewale, Ogunbambo was being prosecuted before a Lagos State High Court but vanished after securing bail. His present location is unknown.
Ogunbambo’s disappearance follows the recent conviction of his co-defendants, Mamman Nasir Ali and Christian Taylor, who were each sentenced to 14 years’ imprisonment on Tuesday, May 27, 2025, for their involvement in the high-profile subsidy fraud.
The EFCC described Ogunbambo as light complexioned, proficient in both English and Yoruba, and last known to reside at No. 2 Olamiyuyan Crescent, Ikoyi, Lagos.
The Commission’s official notice reads: “Mr. Seun Ogunbambo, Managing Director of Fargo Petroleum and Gas Limited, is wanted by the Economic and Financial Crimes Commission (EFCC) for allegedly defrauding the Federal Government of Nigeria through bogus oil subsidy claims to the tune of Nine Hundred and Seventy-Six Million, Six Hundred and Fifty-Three Thousand, One Hundred and Ten Naira, Twenty-Eight Kobo (₦976,653,110.28).
“He was standing trial before a Lagos State High Court but disappeared after being released on bail. His co-defendants, Mamman Nasir Ali and Christian Taylor, were convicted and sentenced to 14 years’ imprisonment each on May 27, 2025.
“Ogunbambo is light complexioned, speaks English and Yoruba, and his last known address is 2 Olamiyuyan Crescent, Ikoyi, Lagos.”
The EFCC has appealed to members of the public with any information regarding Ogunbambo’s whereabouts to report to the nearest EFCC offices nationwide.
