Subsidy fraudsters sentenced to 10 years in prison

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A Lagos High Court in Ikeja has sentenced Walter Wagbatsoma and Adaoha Ugo-Nnadi to 10 years in prison for fuel subsidy fraud.

The judge said the sentence would start to count from January 13, 2016.

She also ordered restitution for Ontario Oil and Gas, and asked the company to refund N754 million being the amount it defrauded the Nigerian government.

Details later.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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