EFCC Declares Ogunbambo, MD, Fargo Petroleum Wanted for N1 Billion Subsidy Scam
The Economic and Financial Crimes Commission (EFCC) has declared Oluwaseun Olubukola Ogunbambo, the Managing Director of Fargo Petroleum and Gas Limited, wanted for allegedly defrauding the Federal Government of Nigeria of nearly N1 billion in a high-profile oil subsidy scam.
According to an official bulletin released by the EFCC, Ogunbambo is accused of fraudulently claiming N976,653,110.28 under the fuel subsidy programme using fictitious importation claims.
The suspect, who was standing trial before a Lagos State High Court, reportedly jumped bail and disappeared before the conclusion of his trial.
The EFCC’s declaration comes on the heels of the conviction and sentencing of Ogunbambo’s co-accused, Mamman Nasir Ali and Christian Taylor, who were each sentenced to 14 years in prison on Tuesday, May 27, 2025.
The anti-graft agency has urged the public to provide any useful information about Ogunbambo’s whereabouts, describing him as light-complexioned and fluent in both English and Yoruba.
His last known address is 2 Olamiyuyan Crescent, Ikoyi, Lagos.
The EFCC has called on members of the public to come forward with any information that could lead to Ogunbambo’s arrest and prosecution.
Information can be directed to EFCC offices across the country or via the agency’s hotline: +2348093322644, or by email: info@efcc.gov.ng.
In a statement signed by Dele Oyewale, Head of Media & Publicity for the EFCC, the agency emphasized the urgency of apprehending Ogunbambo to face justice for his role in the multi-billion naira oil scam.
“The EFCC is committed to ensuring that those who engage in fraudulent activities are brought to book,” Oyewale said. “We urge the public to cooperate with us in this effort to combat corruption and economic crime in Nigeria.”
The declaration of Ogunbambo as wanted is the latest development in the EFCC’s ongoing efforts to crack down on corruption and fraud in the oil and gas sector.
The agency has vowed to leave no stone unturned in its pursuit of justice and to ensure that those who engage in fraudulent activities are held accountable.
