The Economic and Financial Crimes Commission, EFCC yesterday re-arraigned Abdullahi Alao, the son of Abdulazeez Arisekola Alao, the late Ibadan based business mogul, and the deceased Managing Director of Majope Investment, Opeyemi Ajuyah before an Ikeja High Court on eight count charge bordering on fuel subsidy fraud and forgery.
The commission accused Alao and his company, Axe Energy Ltd, Ajuyah and Olanrewaju Olalusi of fraudulently obtaining subsidy payments amounting to N1.1 billion before the trial Judge, Justice Lateefa Okunnu.
Ajuyah, who was facing charges alongside other defendants in the N1.1 billion fraud died last January.
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