EFCC Arraigns Three, Vessel Over Alleged N12 Billion Oil Theft

The Economic and Financial Crimes Commission (EFCC) on Wednesday, October 29, 2025, arraigned a vessel, MT Ostria, and three individuals before Justice Mojisola Dada of the Special Offences Court, Ikeja, Lagos, over the alleged theft of more than 13 million litres of Premium Motor Spirit (PMS) valued at about ?12 billion, said to belong to NNPC Retail Limited.

The defendants — Captain Raymundo A. Panaligam, Chief Officer Roneno Villarin, both crew members of the vessel, and Mr. Vincent Wayas, an employee of GMO, an inspectorate firm representing NNPC — were docked on a four-count charge bordering on conspiracy and stealing.

According to the EFCC, the defendants conspired to steal 13,354,000 litres of PMS, an offence contrary to Sections 411 and 280 of the Criminal Law of Lagos State, 2015, and punishable under Section 287 of the same law.

One of the counts reads:

“MT Ostria, Captain Raymundo A. Panaligam, Chief Officer Roneno Villarin and Mr. Vincent Wayas, sometime in January 2024 in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to commit felony, to wit: stealing of Thirteen Million, Three Hundred and Fifty-Four Thousand (13,354,000) litres of Premium Motor Spirit, property of NNPC Retail Limited.”

Another count states that the defendants, on or about January 17, 2024, dishonestly took 9,000,000 litres of PMS belonging to NNPC Retail Limited, while another charge accuses them of stealing an additional 3,000,000 litres of the product.

All three defendants pleaded not guilty to the charges.

Following their plea, the EFCC counsel, Mrs. Bilikisu Buhari, urged the court to remand the defendants in a correctional facility pending trial, arguing that they posed a flight risk and had nothing to lose if they absconded.

However, the defence counsel informed the court that bail applications had been filed, and appealed that their clients be allowed to continue under the administrative bail conditions earlier granted by the EFCC, noting that they had not defaulted.

In her ruling, Justice Dada allowed the defendants to remain on their existing EFCC bail conditions and adjourned the case to November 17 and 27, 2025, for the commencement of trial.