The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned a vessel, MT Ostria, and three men before an Ikeja Special Offences Court over the alleged theft of Premium Motor Spirit (PMS) valued at ₦12 billion.

The defendants — Raymundo Panaligam and Roneno Villarin, both officials of the vessel, and Vincent Wayas, a staff member of GMO representing NNPC Retail Ltd. — are facing a four-count charge of conspiracy and stealing more than 13 million litres of PMS.

EFCC counsel, Mrs. Bilikisu Buhari, told the court that the defendants conspired in January 2024 to steal 13,354,000 litres of petrol belonging to NNPC Retail Ltd.

One of the charges alleged that on 17 January 2024, the defendants dishonestly took nine million litres of petrol, property of NNPC Retail Ltd., and later stole an additional three million litres.

The prosecution said the offences contravened Sections 280 and 411 of the Criminal Law of Lagos State, 2015.

The defendants pleaded not guilty to all charges.

Mrs. Buhari urged the court to remand them, arguing they posed flight risks. However, the defence counsel told the court that bail applications had been filed and requested that the defendants remain on their existing EFCC administrative bail.

Justice Mojisola Dada ruled that the defendants should continue under the existing bail conditions and adjourned the matter until 17 November for trial.