Businessman Remanded Over Alleged N11 Million Diesel Fraud in Lagos

A Lagos-based businessman, John Ibe Nnadozie, has been remanded in prison custody following his arraignment at the Igbosere Magistrate’s Court sitting in Tinubu over an alleged diesel fraud totaling N11 million.

According to police investigations, Nnadozie allegedly obtained 9,167,000 litres of diesel—valued at N11 million—from Ajayi Segun, manager of Obededom Oil and Gas Limited, under a sales agreement. He was reportedly expected to sell the product and remit the proceeds to the company. However, he allegedly diverted the funds for personal use and went into hiding.

The matter came to the attention of law enforcement after a formal petition was filed with the Assistant Inspector General of Police, AIG Adegoke Fayoade of Zone 2 Command, Lagos. Nnadozie was later apprehended following a thorough investigation.

He was arraigned on a three-count charge, including obtaining goods under false pretence, theft, and providing false information. The charges, filed under case number P/25/2025, were presented by Police Prosecutor ASP Jimoh Joseph. The prosecution stated that the alleged offences occurred in March 2024 at 20 Oredayo Street, Agege, Lagos.

The charges violate Sections 411, 314, 287, and 96(a) of the Criminal Law of Lagos State, 2015.

Nnadozie pleaded not guilty during the court proceedings.

While the magistrate granted him bail, he was ordered to be remanded in custody until he fulfills the bail conditions. The case has been adjourned to a later date.