Ibadan Billionaire, Arisekola Alao’s Son, Abdullai Eyes Acquittal In N2.7b Fuel Subsidy Theft Case

Abdullai, the son of Ibadan Billionaire, Aare Arisekola Alao and his handlers are working hard to get the low profile out of the entanglement of oil subsidy theft case.

And their efforts appear about to pay off.

The younger Arisekola along with his company, Axenergy Limited is currently undergoing prosecution for a 7 count charge bordering on conspiracy to obtain money by false pretences contrary to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

The defendant and his company allegedly obtained the sum of N2,640, 141, 707.75 ( Two Billion, Six Hundred and Forty Million; One Hundred and Forty One Thousand; Seven Hundred and Seven Naira, Seventy Five Kobo ) being payments obtained from the
Petroleum Support Fund for the purported importation of 33.3 million litres of Premium Motor Spirit- which they didn’t fulfill.
The defendant, who was originally docked on Thursday, July 26, 2012, pleaded not guilty to all the charges but was remanded in custody. He was later granted bail in the sum of one hundred million naira amidst other conditions.

He has been on bail since then. Informants however revealed, the end of his problems however appear to be in sight.

His father, Aare Arisekola and other sympathisers have been on his case- exploring different means to get him off the hook.

Part of the moves that just paid off- and giving hope of an acquittal in the case to his supporters, is recent claim credited to officials Petroleum Products Pricing Regulatory Agency (PPRA).

Staffers of the agency that originally played a major role in Abduallai’s indictment espouse the verdict ‘Abdullai’s Documents For Subsidy Payment have been verified”

Analysing this situation a keen watcher of the event claims ‘ that could signal the collapse of the case against him, since it is built on non verification of the documents that backs his claim of fulfilling agreement in the first place’

insiders revealed this dramatic angle, which showed reward of incessant underground moves by Abdullahi’s influence peddler father- and other sympathisers -was introduced into the mix in the last arraignment.

The disclosure by PPRA officials was made in court- and the defense viewed it a major victory, with the suspect and those close to him already eyeing ‘an acquittal’

Further digs by societynowng.com revealed ‘friends and confidants of the Axenergy have had their confidence in his walking free boosted since then’

‘They now talk with more assurances of his evading heavy sanction’ a source confirmed.

Followers of event however claimed, there may be more drama to be witnessed in the case.

‘It remain to be seen whether the prosecutor with the burden of the reputation of the presidential probe panel and others that risked their reputation to put together the report that led to his arrest and on going prosecution will convince the judge otherwise or not’ another source maintained.