Justice O. M. Anyachebelu of the Anambra State High Court sitting in Awka has convicted and sentenced the Managing Director of Orient Petroleum Resources Plc, Engineer Nnaemeka Nwawka, and one other to 14 years’ imprisonment each over a N25 billion fraud.
Nwawka and the co-defendant were found guilty on a 10-count charge bordering on stealing, fraudulent conversion and gratification. The charges also involved the Sage Nebefeife Foundation.
In one of the counts, the defendants were accused of fraudulently converting N82,856,934 between April 23 and December 21, 2012. The funds were allegedly transferred from Vhelbherg International Limited’s account with Standard Chartered Bank into the account of Sage Nebefeife Foundation domiciled in First Bank.
Another count stated that between January 8 and May 24, 2013, the defendants converted N29,620,733 transferred from the same company account into the foundation’s bank account.
The defendants pleaded not guilty when the charges were read to them, prompting the Economic and Financial Crimes Commission (EFCC) to proceed to full trial through its counsel, Victor Ukagwu. The trial spanned 10 years, during which the prosecution called four witnesses and tendered several documentary exhibits marked P1 to P24.
According to the prosecution, evidence presented before the court showed that Nwawka facilitated the award of contracts by Orient Petroleum to companies linked to his associates. The funds paid to those companies were allegedly routed back to him through the Sage Nebefeife Foundation and subsequently withdrawn for personal use.
Counsel to the first and third defendants, U. N. Udechukwu, SAN, and counsel to the second defendant, E.S.C. Obiora, SAN, defended their clients, arguing that the contracts were duly executed and properly handled.
However, Justice Anyachebelu held that the prosecution had proved its case beyond reasonable doubt and accordingly convicted and sentenced Nwawka and his co-defendant to 14 years’ imprisonment each.
The court also ordered the convicts and the foundation to jointly refund N140,900,000 to Orient Petroleum Resources Plc.
The case followed a petition by Chief Cletus Ibeto, an investor in the company, who alleged that he invested N25 billion in Orient Petroleum but that substantial sums were siphoned through the award of inflated and suspicious contracts to companies linked to Nwawka’s associates.