The Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has said the commission would arrest and prosecute perpetrators of about N70 billion fuel subsidy fraud.
He made this known on Wednesday in an interview with newsmen at the Ikeja High Court, Lagos, after testifying in a fuel subsidy trial involving an oil firm, Nadabo Energy.
Bawa said the anti-graft agency had identified about N70 billion fraud perpetrated through the Federal Government fuel subsidy programme.
He, however, revealed the EFCC has so far recovered N20 billion from the N70 billion and the agency is working to recover the rest.
“We have identified fraud of about N70 billion perpetrated through the fuel subsidy.
“So far the commission has recovered N20 billion from the N70 billion and we are working to recover the rest,” Bawa said.
He noted that the EFCC is working tirelessly to arrest an alleged fuel subsidy suspect, who was arraigned in 2012, but jumped bail and fled the country.
Bawa lamented the slow pace of some of the fuel subsidy trials, adding the commission will continue to rigorously pursue all its cases in court.