EFCC has uncovered N70bn fuel subsidy fraud – Abdulrasheed Bawa

The Economic and Financial Crimes Commission, EFCC, has uncovered about N70 billion fraud carried out through the Federal Government’s fuel subsidy programme.

This was disclosed by the Chairman of the commission, Abdulrasheed Bawa during a chat with newsmen at the Ikeja High Court in Lagos State on Wednesday.

Bawa, while appearing at the court, testified in a fuel subsidy trial involving an oil firm, Nadabo Energy.

He said that the commission would continue to rigorously pursue all its cases in court.

Bawa said:

“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.

“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.”