The Economic and Financial Crimes Commission (EFCC) has declared Seun Ogunbambo, the Managing Director of Fargo Petroleum and Gas Limited, wanted for allegedly defrauding the Federal Government of Nigeria in a high-profile oil subsidy scam totalling nearly N1 billion.
According to an official bulletin released by the EFCC, Ogunbambo is accused of fraudulently claiming N976,653,110.28 (Nine Hundred and Seventy-Six Million, Six Hundred and Fifty-Three Thousand, One Hundred and Ten Naira, Twenty-Eight Kobo) under the fuel subsidy programme, using fictitious importation claims.
Ogunbambo, who was standing trial before a Lagos State High Court, reportedly jumped bail and disappeared before the conclusion of his trial. His co-accused, Mamman Nasir Ali and Christian Taylor, were convicted and sentenced to 14 years in prison each on Tuesday, May 27, 2025.
Described as light-complexioned and fluent in both English and Yoruba, Ogunbambo’s last known address is 2 Olamiyuyan Crescent, Ikoyi, Lagos.
The EFCC has urged the public to provide any useful information about his whereabouts. Information can be directed to EFCC offices across the country — in Lagos, Enugu, Kano, Gombe, Port Harcourt, Ibadan, Benin, Kaduna, Sokoto, Makurdi, Ilorin, Maiduguri, Uyo, and Abuja — or via the agency’s hotline: +2348093322644, or by email: info@efcc.gov.ng.
The notice, signed by Dele Oyewale, Head of Media & Publicity for the EFCC, emphasised the urgency of apprehending Ogunbambo to face justice for his role in the multi-million naira fraud scheme.
