A Lagos High Court has sentenced Mrs Ada Ugo-Ngali and Walter Wagbatsoma to 10 years in prison for defrauding the Federal Government of 754 million Naira in oil subsidy transactions.
Justice Lateefa Okunnu, gave the sentence on Thursday, January 26.
Okunnu, also added that the 754 million Naira which was defrauded by the company, must be returned to the Federal Government in restitution.
The co-defendant Walter Wagbatsoma, who was absent in court is currently being held in the United Kingdom on charges relating to a £12 million National Health Service (NHS) Trust fraud.
Mrs Ada Ngo-Nagali had collapsed after the judge had initially convicted her of the crime – the ensuing confusion then forced the court to adjourn the proceedings to January 16.
Family members later claimed that Mrs Ugo-Nnadi, who is the Managing Director of Ontario Oil and Gas Limited, was subsequently rushed to a hospital in the company of some prisons officials.
The sentence is the first of its kind since massive oil subsidy fraud allegedly perpetrated by oil marketers was uncovered in the petroleum industry in 2012