The Economic and Financial Crimes Commission (EFCC) has issued a wanted notice for Seun Ogunbambo, the Managing Director of Fargo Petroleum and Gas Limited, for allegedly defrauding the federal government of N976.65 million through fraudulent oil subsidy claims.
The EFCC made this announcement in a public notice released on Friday, labeling Ogunbambo a fugitive after he reportedly absconded while on bail during his trial at a Lagos State High Court.
The notice, signed by Dele Oyewale, the Head of Media and Publicity for the commission, stated that Ogunbambo was being prosecuted alongside co-defendants Mamman Ali and Christian Taylor, who were convicted and sentenced to 14 years in prison each on May 27, 2025, for their involvement in the scheme.
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“The suspect disappeared after being granted bail and has not returned to court,” the EFCC stated, urging the public not to assist him in evading justice.
The alleged subsidy fraud involves N976,653,110.28, which the EFCC claims was falsely submitted as payment for petroleum products that were never supplied.
Ogunbambo is described as having a light complexion and being fluent in both English and Yoruba.
He was last located at 2 Olamijuyuan Crescent, Ikoyi, Lagos.
The commission has requested that anyone with information about his location report to its offices in Lagos, Enugu, Kano, Gombe, Port Harcourt, Ibadan, Benin, Kaduna, Sokoto, Makurdi, Ilorin, Maiduguri, Uyo, or Abuja.
