The Economic and Financial Crimes Commission (EFCC) has charged a vessel, MT Ostria, and three men before a Lagos court over the alleged theft of more than 13 million litres of Premium Motor Spirit (PMS), worth an estimated ₦12 billion, belonging to NNPC Retail Limited.
The suspects — Captain Raymundo A. Panaligam, Chief Officer Roneno Villarin and Vincent Wayas — were arraigned before Justice Mojisola Dada of the Special Offences Court in Ikeja on a four-count charge of conspiracy and stealing.
Panaligam and Villarin were said to be crew members aboard the vessel, while Wayas is an employee of GMO, an inspection firm representing NNPC.
According to the EFCC, the trio conspired to siphon 13,354,000 litres of petrol from the state-owned company’s reserves, offences contrary to and punishable under the Lagos State Criminal Law of 2015.
Prosecutors alleged that the defendants dishonestly took nine million litres of PMS on 17 January 2024 and later diverted an additional three million litres. All defendants pleaded not guilty.
Prosecution counsel, Bilikisu Buhari, urged the court to remand them in a correctional facility, arguing that they posed a flight risk and could abscond if released.
Defence counsel countered that formal bail applications had already been filed and insisted that the accused had complied with all conditions of the administrative bail earlier granted by the EFCC.
Justice Dada allowed the defendants to remain on their existing bail terms and adjourned the trial to 17 and 27 November 2025.
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