Alleged Maritime Heist: EFCC Arraigns Vessel, Three Individuals Over N12 Billion Petrol Theft in Lagos

The Economic and Financial Crimes Commission (EFCC) has officially arraigned a vessel, MT Ostria, and three individuals before a Special Offences Court in Ikeja, Lagos, on charges related to the alleged theft of over 25 million litres of Premium Motor Spirit (PMS). The massive volume of fuel is estimated to be valued at approximately N12 billion.

The defendants—identified as Captain Raymundo A. Panaligam, Chief Officer Roneno Villarin, and Mr. Vincent Wayas (a staff member of GMO Inspectorate Firm representing NNPC Retail Limited)—were brought before Justice Mojisola Dada on Wednesday, October 29, 2025.

The four-count charge against the accused borders on conspiracy and the stealing of the large consignment of petrol belonging to the NNPC Retail Limited. The alleged offence is said to have occurred in January 2024.

According to the EFCC prosecution counsel, Mrs. Bilikisu Buhari, the charges allege that the defendants conspired to steal a total of 25,354,000 litres of PMS. Separate counts detailed the theft of 13,354,000 litres, 9 million litres, and an additional 3 million litres of the product.

All defendants pleaded not guilty to the charges read in court. Following their plea, the prosecution had urged the court to remand the defendants in a correctional facility, arguing they were flight risks. However, the defence teams informed the court that administrative bail applications had been filed and requested the continuation of the existing bail conditions granted by the anti-graft agency.

Justice Dada granted the defence's request, ruling that the defendants should continue on their existing EFCC bail terms. The case has been adjourned for the commencement of trial on November 17 and 27, 2025.