Pastor accused of $10 million Oil bloc fraud

Joseph Olarenwaju Obembe, a former head of the
Pentecostal Fellowship of Nigeria (PFN) and the
presiding Bishop of Elshaddai Bible Church in
Dolphin Estate, Lagos State has been accused by his
business partners of acting criminally in a crude oil
deal. The bishop's accusers allege that the cleric
sought to cheat them out of a huge amount of cash
after some prospective investors offered $9 million
for an oil deal.
SaharaReporters learnt that the Bishop was
specifically accused of declaring only $1 million to his
partners instead of $10 million that was the actual
offer by the investors. In addition, the bishop's
accusers allege that he also insisted that 10% of the
$1 million he fraudulently declared as the total
receipts must be paid as tithe to his church.
In December 2010, Mr. Obembe filed a lawsuit in
which he accused his partners of forgery and altering
the letter-head of Elshaddai Petroleum Limited with
intent to dupe his company to the tune of N100
million. However, his witnesses at the trial as well as
other partners contradicted his claims, stating that
the Bishop was himself responsible for any fraud that
happened in their business relationship.
Testifying last Wednesday before Justice Okunnu of
the Lagos State High Court in Ikeja, a defense
witness, Julius Sajuyigbe, asserted that the Bishop's
greed and intent to defraud broke their relationship.
Helyn Aninye, a witness called by Bishop Obembe,
had in her earlier testimony portrayed the bishop as
the traitor whose greed caused the collapse of the
business relationship.
Court testimonies have painted the picture that the
now soured business journey started in 2006, when
the partners, who include, Mr. Remi Folorunsho,
Pastor Olagunju, Bishop Obembe and Mr. Sajuyigbe
signed an agreement to pursue an oil bloc.
Witnesses disclosed that the partners agreed to use
Bishop Obembe's Elshaddai Petroleum Limited as the
bidding firm for an oil bloc as it was too late to
incorporate another company. in addition, the
partners decided that Bishop Obembe's spiritual
profile might help their hunt for an oil bloc.
Mr. Sajuyigbe said he facilitated the meeting of all
the partners, adding that Ms. Aninye was the last
partner to join, bringing the number of partners to
five.
The partners appeared set to flourish when they won
their bid for the oil bloc marked '294′ in the Niger
Delta for $51 million. Unable to finance the business,
the partners went searching for investors in their oil
bloc.
Ms. Aninye told the court that all partners were made
directors in the El Shaddai Petroleum Company. She
added that the firm had not filed all the relevant
forms to be registered before the partnership began
crumbling.
She also disclosed that the original owners of
Elshaddai Petroleum Limited were Bishop Obembe,
his wife and kids, but that after the successful bid for
an oil bloc, the new partners were to become the new
owners and directors of the registered oil company to
continue their new business.
A defense witness, Mr. Sajuyigbe, said the partners
agreed that Bishop Obembe should remain as
chairman of the company, while Mr. Folorunsho
began serving as the Chief Executive Officer. Ms.
Aninye, who is a lawyer, served as company
secretary and legal adviser. The witness said he
served as Finance Director while Pastor Olagunju had
no special function but served as liaison for the team
abroad because he is based outside the country.
Several witnesses testified that some investors
showed interest in the oil bloc and offered to fund the
business. However, the partners agreed to accept
one of the prospective investors, IGI, introduced by
the bishop.
However, Mr. Sajuyigbe, who corroborated testimony
of Ms. Aninye alleged that Bishop Obembe concealed
the actual value of IGI's investment, which was $10
million. He told the court that the bishop declared
only $1 million to the other partners, and demanded
10% of the $1 million as tithe to his church.
The witness said they later discovered from reliable
sources that the actual amount offered by IGI was $
10 million. He revealed that the discovery led to a rift
in the partnership. He told the court that, when the
partners confronted Bishop Obembe over his fraud,
the cleric described it as "a mistake of the mind and
not of the body."
A lawyer familiar with their partnership told
SaharaReporters that the other partners opened a
new domiciliary account and advised IGI to pay its
investment there. He added that the partners
informed the bishop of their move, which was
designed to checkmate his fraud. A reportedly
furious Bishop Obembe then decided to file a lawsuit
accusing the other partners of "forgery" of letter-
head to in order to enter into correspondence and for
the purpose of opening a new account.
Further hearing was adjourned till January 29, 2014.