EFCC has uncovered over N70bn fuel subsidy fraud.
NewsOne Nigeria reports that the chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, on Wednesday, March 10, said the anti-graft agency has identified about N70billion fuel subsidy fraud cases.
Bawa 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.
The EFCC boss said about N20billion has been recovered from the N70billion fraud perpetrated through the federal government fuel subsidy programme.
Bawa 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.”
The EFCC boss 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.