EFCC declares Seun Ogunbambo wanted over N976.6m oil subsidy fraud

The Economic and Financial Crimes Commission (EFCC) has declared the Managing Director of Fargo Petroleum and Gas Limited, Seun Ogunbambo, wanted for jumping bail in his trial over alleged oil subsidy fraud.

The EFCC made the declaration via a notice signed by the commission’s Head of Media and Publicity, Dele Oyewale, on Friday, June 13, 2025.

The anti-graft agency said Ogunbambo allegedly defrauded the federal government in bogus oil subsidy claims to the tune of N976,653,110.28.

The commission stated: “He was facing trial before a Lagos State High Court but disappeared after being released on bail.

“His co-defendants, Mamman Nasir Ali and Christian Taylor, were convicted and sentenced to 14 years imprisonment each on Tuesday, May 27, 2025.

“Light complexioned Ogunbambo speaks English and Yoruba.

“His last known address is 2, Olamiyuyan Crescent, Ikoyi, Lagos.”