N830m Fraud: Oil firm drags Olyton, director to EFCC…Alleges criminal diversion of funds

A Lagos based oil and Gas Company has dragged Olyton Nigeria Limited, a steel construction company and its Director, Mr. Oliver Okeregwu before the Economic and Financial Crimes Commission (EFCC) for allegedly failing to deliver on a N829.6 million job even after an overpayment of N301.1 million, this SHOWBIZPLUSng can authoritatively report.
According to the petition dated July 17, 2014 and referenced PLG/17072014/EFCC/0001, the initial value for the job was N652.8 million but on the demand of the Okeregwu, more money was added for him and yet after paying above the stipulated value of the contract, the job was yet to be delivered while the contractor allegedly claimed that he had no money to complete the job.