Friday, March 29, 2024

Ada Ugo-Ngadi jailed for 10 years for fuel subsidy fraud, burst into tears

MD Ontario Oil, Ada Ugo-Ngali Weeps As She’s Jailed 10 Years For Oil Subsidy Fraud.

Mrs Ada Ugo-Ngali, the Managing Director of Ontario Oil and Gas Ltd, was on Thursday sent to jail for 10 years for defrauding the Federal Government of N754 million in oil subsidy transactions.

Mrs Ada Ugo-Ngali had earlier on on Jan. 13 slumped in court when her sentence was about to be pronounced by Justice Lateefa Okunnu of an Ikeja High Court. She was rushed to the Intensive Care Unit of the Lagos University Teaching Hospital (LUTH). Her family and well-wishers had escorted her to the court from the hospital.

Justice Lateefa Okunnu handed down the verdict, the first conviction since the massive oil subsidy fraud trial allegedly perpetuated by oil marketers began in 2012.

Walter Wagbatsoma, Ugo-Ngadi’s co-defendant and the Chairman of Ontario Oil and Gas Ltd, was absent in court for the judgment. He is currently being held in the United Kingdom on charges relating to a £12 million National Health Insurance Scheme (NHIS) Trust fraud.

See photos below


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