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Oil And Gas Big Boy Indicted By EFCC

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A big boy in the Oil and Gas industry, Laitan Adesanya,  has been indicted for his involvement in the on-going slush fund investigation by the Economic and Financial Crimes Commission (EFCC).

Adesanya, was allegedly invited and grilled by the financial crimes agency following his involvement in a $1.85m deposited by his firm in a financial institution.

Other companies indicted in the investigation include Auctus Integrated, which deposited $17,884,000 into the bank, Northern Belt Gas Company, deposited $60m while another company, Midwestern Oil and Gas, deposited $9.5m.

The businessman ishowever not new to issues like this, as in 1992, during the military rule he was a subject of attention when a contract in which he was involved with the Nigerian National Petroleum Corporation (NNPC) became the subject of public discourse in 1992.

He was also reported to have been on a collision course with the brutally unsparing regime of General Sani Abacha over his alleged purchase of 50 percent of the shares in Texaco Oil, which eventually led him into a self-imposed exile in order to escape from the grip of Abacha goons.

As it is, time will tell if he will comes out of this new situation unscratched.

-Additional report: The Capital

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