*Anti-graft boss laments slow fuel subsidy trials
Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has advanced in the trial of Nadabo Energy in an on-going probe of an alleged N1.4 billion fuel subsidy trial involving the oil firm.
The Chairman of the agency, Abdulrasheed Bawa, who is leading the probe, lamented the slow pace of some fuel subsidy trials in the nation’s courts.
Bawa, expressed this at the Ikeja High Court in Lagos after testifying in an alleged N1.4 billion fuel subsidy trial involving an oil firm, Nadabo Energy.
The EFCC boss appeared in court to testify in a case involving Nadabo Energy and its Chairman, Abubakar Peters.
He told reporters that his commission had identified about N70 billion fraud perpetrated through Federal Government’s fuel subsidy programme.
He also said only about N20 billion of the money had been recovered by the agency, adding that the commission would continue to rigorously pursue all its cases in court.
According to him, the EFCC was working to arrest an alleged fuel subsidy suspect, Seun Ogunbambo, who was arraigned in 2012 but absconded.
The anti-graft agency is prosecuting the defendants for allegedly obtaining N1.4 billion from the Federal Government as oil subsidy, using forged documents.
The defendants are also accused of inflating the quantity of Premium Motor Spirit (PMS) purportedly supplied to the Federal Government to 14,000 metric tonnes.
