The Economic and Financial Crimes Commission has arrested a 62-year-old businessman, Alhaji Umar Audu Bida, for an alleged fraud involving $130m, the Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, announced in a statement in Abuja on Thursday.
Bida is identified as the chief executive officer, Universal Contractors Limited,
Uwujaren also said that the commission was also investigating the businessman for alleged possession of some documents of the Nigerian National Petroleum Corporation for the supply of Crude oil to his American business partner, Donald Laletta, who is the Chief Executive Officer, Park LLLC.
Uwujaren said that the operatives of the EFCC arrested Umar in Kaduna on Tuesday for alleged possession of fake documents for the lifting of crude oil by some vessels.
According to the EFCC spokesman, the vessels are MT Antartic, MT Sonagol Namibe and MT Caped Bowen.
The suspect said that he obtained the documents from the agents to the seller-Lambda, Double Wonder and Days Marines Services- who allegedly claimed to have crude oil for sale.
The complainant alleged that the suspect had attempted to defraud him after signing a Sales and Purchase Agreement, SPA, with him. He also claimed to have paid the suspect, who acts as his agent in Nigeria, the sums of $8million, $10million and $12million at different times, and that he raised a letter of credit, via a courier company, in favour of Universal Contractors Limited to the tune of $100m (One Hundred Million Dollars).
The payment claims are being investigated by the EFCC as well.
