Anti-corruption and elections / EFCC

EFCC Arraigns Four for Alleged N2bn Oil Fraud in Lagos

The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 2, Ikoyi, on Friday, March 6, 2026, arraigned the quartet of Babatunde Olukunle Oyefolu, Babayemi Isaac Olatunde Ezekiel Abaki and Plural Oil Marketing Limited for an alleged N2bn oil fraud before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos. The defendants were arraigned on a four-count charge of alleged conspiracy, theft, and possession of stolen property involving 894,111 litres of base oil valued at ₦2,000,000,000 (Two Billion Naira). One of the counts reads:” That you, Plural Oil Mar…