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Directorate of Zonal Port Harcourt of the Economic and Financial Crime Commission (EFCC) on Tuesday, charged Ugochukwu Joseph Nwamere, Executive Director of Pennhydro-Pell Oil and Gas Limited before Judge Obile. The High Court sitting in Port Harcourt, Rivers State, for accusing Jumul, the formeriing of Porther Port Harcourt, Rivers State, for accusing Jumutional.
He was charged with 10-calculation accusations.
One of the accusations reads:
That you, Ugochukwu Joseph Nwamere are the manager
Director/Head of Executive Pennhydro-Pell Oil & Gas Limited
and Osaogba Christian Izuchukwu (now in general), becoming the Executive Director of Pennhydro-Pell Oil & Gas Limited, in or around April 1723 at Port Harcourt, Rivers State in this Honorable Court Jurisdiction, with the intention of suspension, total acquisition of seven hundred million hoods Rivers state through the bank with account number: 4091160890 under the fake pretense that you are awarded a contract for the implementation of dredging and killing shares that you know about the accident worked by the only one that was completed and above the accusation that was completed to be one of the concluded to be one that was concluded to be one of the concluded to be one of the things that was concluded to be one of the species to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows to be one of the sorrows. Being one of the sorrows that was concluded to be one of the Forn to be one of the Forn to be one of the Forn to be one of the Forn to be one of the Forn to become one of the Forn and the accusation that was concluded to be one of the Faids.
He claimed to be “innocent” for all the accusations when they were read to him, encouraging legal advisers, C.Okorie, to ask for a court date.
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The advisor to the defendant, UC Ngeleoka told the court about his request for the Defendant’s guarantee, praying that the defendant be given a guarantee for him to stand on trial.
Judge Obile returned the defendant at the Port Harcourt Corrections until June 21, 2025 to decide on the guarantee application.
Nwaemere was arrested based on accusations made by an applicant for several alleged financial transactions bordering the conspiracy and earned money from his victims with fake stations to become millions.
Specifically, the petitioner Alleged that the defendant, Executive Director of Pennhydro-Pell Oil & Gas Limited, and His Conspirator, (Now at Large), sometimes in April 2023, approached polaris bank limited, Garrison Junction Branch, Aba Road, Port Harcurt, Rivers State for A Loan for the Execution of Dredging and Stock-Pilling of 100.00o Tonnes of Sharp Sand on the on-Going Bodo-Bonny Road Project. To get a loan, he allegedly falsified a document entitled “Pennydro-Pell Oil & Gas Invoice without: 142 dated November 29, 2022”, which was intended to be cleaned by Julius Berger Nigeria PLC for contract payments for the milestone completed by his company with the intention that it might be followed up.
Dele Oyewale, Head, Media & Publicity of EFCC A recorded that the investigation revealed that the defendant was suspected of convincing the bank and obtained a total of seven hundred and fifty million naira (N750,000, 000.00k) but then it was found that the loan proposal was wrong and all efforts by the victim to restore the amount that had been clearly proven.
