EFCC uncovers over N70bn fuel subsidy fraud

The chairman of the Economic and Financial Crimes Commission, (EFCC), Abdulrasheed Bawa on Wednesday said the anti-graft agency has identified about N70billion fuel subsidy fraud cases.

The EFCC boss stated in an interview with journalists at the Ikeja High Court, Lagos after testifying in an alleged N1.4billion fuel subsidy trial involving an oil firm, Nadabo Energy.

Bawa said about N20billion has been recovered from the N70billion fraud perpetrated through the federal government fuel subsidy programme.

He said “We have identified fraud of about N70billion perpetrated through the fuel subsidy.

“So far the commission has recovered N20billion from the N70billion and we are working to recover the rest.”

Bawa did not hide his frustration about the slow pace of some of the fuel subsidy cases that have been in court since 2012.

“Yes, we are worried about the slow pace of some of the fuel subsidy cases we charged to court since 2012 when investigations were concluded.

“Criminal trials are guided by statutes and procedures and we will continue to follow them. I have been a witness in this particular trial involving Nadabo Energy for five years and hopefully, we will get a conviction,” he said.

The post EFCC uncovers over N70bn fuel subsidy fraud appeared first on NEWS.

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