The Economic and Financial Crimes Commission (EFCC) has declared Seun Ogunbambo, Managing Director of Fargo Petroleum and Gas Limited, wanted for allegedly defrauding the Federal Government of over ₦976.65 billion through fraudulent oil subsidy claims.
In a public notice issued on Friday, the anti-graft agency described Ogunbambo as a fugitive from justice, revealing that he jumped bail and disappeared while standing trial at the Lagos State High Court.
According to Dele Oyewale, EFCC’s Head of Media and Publicity, Ogunbambo was being prosecuted alongside Mamman Ali and Christian Taylor, who were both convicted and sentenced to 14 years’ imprisonment each by the court on Tuesday, May 27, 2025.
“The suspect vanished after being granted bail and has since failed to appear in court,” the EFCC stated, urging the public not to harbour or shield him.
The fraud, involving a staggering ₦976,653,110.28, reportedly stemmed from claims for petroleum products that were never supplied under the controversial fuel subsidy scheme.
Ogunbambo is described as light-skinned and fluent in both English and Yoruba. He was last traced to 2, Olamijuyuan Crescent, Ikoyi, Lagos.
The EFCC has appealed to anyone with useful information about his whereabouts to contact its offices in Lagos, Enugu, Kano, Gombe, Port Harcourt, Ibadan, Benin, Kaduna, Sokoto, Makurdi, Ilorin, Maiduguri, Uyo or Abuja.
