The Economic and Financial Crimes Commission (EFCC) has declared Seun Ogunbambo, the Chief Executive Officer of Fargo Petroleum and Gas Limited, wanted for allegedly jumping bail in an oil subsidy fraud case involving nearly ₦1 billion.
In a statement issued on Friday by the EFCC’s Head of Media and Publicity, Dele Oyewale, the commission said Ogunbambo was being tried at a Lagos High Court over false subsidy claims amounting to ₦976,653,110.28.
Ogunbambo, described as light-skinned and fluent in English and Yoruba, reportedly disappeared after being granted bail. His last known address is 2, Olamiyuyan Crescent, Ikoyi, Lagos.
The EFCC said two of his co-accused, Mamman Nasir Ali and Christian Taylor, were recently convicted and sentenced to 14 years imprisonment each by the court on May 27, 2025.
This is not the first time Ogunbambo has been declared wanted. The anti-graft agency first issued a notice for his arrest back in August 2013 in connection with the same oil subsidy fraud case.
The case is one of several involving fraudulent claims under Nigeria’s controversial fuel subsidy scheme, which has cost the country trillions of naira over the years and has often been plagued by corruption and mismanagement.
The EFCC has urged anyone with useful information about Ogunbambo’s whereabouts to report to the nearest police station or EFCC office nationwide.