The boss of Axenergy Limited, Abdulahi Alao has scampered out of town, highstreet.ng reliably pieced together.
Mr Abdulahi Alao is the son of Ibadan, Oyo State late billionaire businessman, Aare Arisekola Alao.
This development is in the face of the oil businessman’s on going prosecution by the Economic and Financial Crime Commission (EFCC) for subsidy fraud to the tune of N2bn back home.
Findings by highstreet.ng revealed Turkey as Mr Abdulahi Alao’s new place of abode.
Sources told highstreet.ng he relocated to the Asian country in the month of September, 2019.
Those who are familiar with happenings around the son of the late Aare Musulumi of Yoruba Land have maintained the 8 years battle with mega money subsidy fraud have obviously dealt him a devastating blow financially.
Hence his decision to relocate from Nigeria.
Alao’s crisis started in 2012 when he was dragged to court by the Economic and Financial Crime Commission (EFCC) on charge bordering on conspiracy to obtain money by false pretences.
Mr Alao, along with his company, Axenergy Limited, was docked on a seven count charge bordering on conspiracy to obtain money by false pretences contrary to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
They were accused to have obtained the sum of N2,640, 141, 707.75 ( Two Billion, Six Hundred and Forty Million; One Hundred and Forty One Thousand; Seven Hundred and Seven Naira, Seventy Five Kobo only) being payments obtained from the Petroleum Support Fund for the purported importation of 33.3 million litres of Premium Motor Spirit.
He was eventually granted bail by Justice Habeeb Abiru of Lagos High Court in the sum of N100,000,000.00 (One hundred million naira only) and two sureties in like sum.
And he has been in and out of the court of law ever since.
