A Lagos State Special Offences Court sitting in Ikeja has fixed September 29, 2025, for the commencement of trial in the case involving businessman Peter Otomewu and his company, Pebeto Enerji Limited, over an alleged $75,000 fraud.
Otomewu and his firm were arraigned before Justice Mojisola Dada by the Economic and Financial Crimes Commission (EFCC) on a two-count charge of obtaining money by false pretence and stealing.
According to EFCC counsel M.S. Owede, the defendants allegedly obtained $75,000 from Virgin Forest Energy Limited in 2018 under the false pretext of possessing a vessel, MT AYSU, capable of transshipping petroleum products.
The prosecution maintained that the claim was fraudulent and that the funds were never used for the purpose stated, but instead dishonestly converted by the defendants.
The charges, according to the EFCC, contravene Sections 278, 278(1), and 411 of the Criminal Law of Lagos State, 2015, and Sections 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Related Offences Act, 2006.
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Otomewu and his company pleaded not guilty to the charges.
Following their plea, the prosecution urged the court to remand the first defendant in custody and requested a trial date.
Defence counsel, Peter Ajabor applied for bail, asking the court to grant it on liberal terms.
Justice Dada subsequently granted bail in the sum of N50 million each, with two sureties in like sum.
The sureties must be gainfully employed, reside within the court’s jurisdiction, and show evidence of having N50 million in their bank accounts.
Pending the fulfilment of the bail conditions, the judge ordered Otomewu’s remand at a correctional facility and fixed September 29, 2025, for the start of trial.
