Alleged Oil subsidy  Fraud: Ontario MD, Ada Ugo-Ngali Regains Freedom

The Managing Director, MD, of Ontario Oil and Gas, Mrs. Ada Ugo-Ngali who was sentenced to 10-years imprisonment by Justice Lateefa Okunnu of a  Lagos High Court sitting at Ikeja, was today freed by the Lagos division of the Court of Appeal sitting at Igbosere.
It would be recalled that Justice Okunnu had on January 13, 2017, convicted and sentenced Ada Ugo-Ngali, to a jail term of 10 years for fuel subsidy fraud to the tune of N754m, alongside the Chairman of the oil firm, Walter Wagbatsoma, who is presently serving a jail term in the United Kingdom, UK.
Justice Okunnu had equally directed the refund of the N754m to the Federal Government of Nigeria, FGN.
The Economic and Financial Crimes Commission, EFCC dragged the duo of Wagbatsoma and Ugo-Ngali, before Justice Okunnu on eight counts charge to hinges on the alleged offence.
The anti-graft agency specifically on August 1, 2013 docked Ugo-Ngali, Wagbatsoma and their company, accusing them of defrauding the Federal Government, FG, of N1.9bn, which they fraudulently obtained as subsidy sum for purportedly importing Premium Motor Spirit, PMS, into the country.
Equally dragged to court with the three convicts was an official of the Petroleum Products Price and Regulatory Agency, PPPRA, Mr. Babafemi Fakuade, who was, however, discharged and acquitted by the judge on January 13.
But not satisfied with the judgment of Justice Okunnu, Ugo-Ngali through her lawyer, Chief Uweche, SAN, approached the Appeal Court to upturn the judgment, in appeal designated CA/L/348C/17, dated February 9, 2017.
The appellant had urged the upper court to discharge her of the conviction on the ground that she cannot be sentenced in the absence of her co-accused.