The Economic and Financial Crimes Commission, EFCC, told an Ikeja High Court on Thursday that the suspect fled to Canada to avert justice.
Mr Oluwaseun is charged with receiving 979.6million Naira from the Federal Government without supplying any petroleum product.
According to spokesman of EFCC, Mr Wilson Uwujaren, the suspect now at large and another oil marketer Habila Theck and their company, Fargo Energy Limited were facing trial for defrauding the Government of 979.6million Naira.
The defence counsel, Mr Raphael Oluyede, said that Ogunbambo was absent in court because he was recently attacked by some unknown gunmen, who had wanted to abduct him.
The prosecutor, Mr Emmanuel Jackson, however, debunked the claim that Ogunbambo was attacked by unknown gunmen. He stated that it was evident that he was no longer in Nigeria.
“He has abused the liberty of being granted bail and his action is making the criminal law to look like a toothless bulldog”, he said.