The Economic and Financial Crimes Commission on Wednesday, October 29, 2025, brought before Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, the vessel MT Ostria and three individuals over allegations of petroleum theft.
The case involves more than 25 million litres of Premium Motor Spirit belonging to NNPC Retail Limited.
According to a statement shared by the EFCC on X, the accused, Captain Raymundo A. Panaligam, Chief Officer Roneno Villarin, and Mr. Vincent Wayas, were arraigned alongside the vessel on a four-count charge of conspiracy and theft.
The charges claim the defendants conspired to steal 25,354,000 litres of PMS, an act said to contravene Sections 411 and 280 of the Criminal Law of Lagos State, 2015, and punishable under Section 287 of the same law.
One count read “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, Five Hundred and Fifty Four Thousand (13,354,000) litres of Premium Motor Spirit, property of NNPC Retail Limited.”
Other counts outline alleged thefts of 9 million litres and 3 million litres of PMS, reportedly on or around January 17, 2024.
All defendants pleaded not guilty when the charges were read to them.
Following the plea, EFCC prosecuting counsel Bilikisu Buhari asked the court “to set a trial date and remand the defendants in a correctional facility. She prayed the court not to grant them bail, that the applicant was a flight risk, that they had nothing to lose if they jump bail or abscond from trial.”
The statement noted “However, the defence team informed the court that bail applications had already been filed and urged that the defendants be allowed to continue under the bail conditions earlier granted by the EFCC.”
Justice Dada ultimately ruled, “That the defendants should continue on the existing EFCC bail conditions and subsequently adjourned the case to November 17 and 27, 2025, for the commencement of trial.”
