The Lagos State High Court in Ikeja has adjourned further proceedings till November 28 in the case of Mr. Abdullahi Alao — a son of the late Ibadan business mogul, Arisekola — who is being tried for alleged fuel subsidy scam of N1, 110,049,444.35.
Alao and his company, Axenergy Ltd., are standing trial alongside Majope Investment Ltd. and one Olarenwaju Olalusi.
The owner of Majope Investment Ltd., Mrs. Opeyemi Ajuyah, who was standing trial with Alao and others, passed on in January this year, leading to the striking out of her name from the charge sheet.
At the Tuesday’s proceedings in the case before Justice Lateefa Okunnu, the legal adviser to Majope Investment Ltd., Mr. Benson Osifo, appeared as a witness for the company.
Osifo, who was led in evidence by counsel for Majope Investment Ltd., Mr. Olanrewaju Ajanaku, told the court how Majope, in 2010, received the approval of the Petroleum Product Pricing Regulatory Agency to import 15,000 metric tonnes of Premium Motor Spirit.