Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has disclosed the discovery of about N70 billion fraud perpetrated through the Federal Government’s fuel subsidy programme.
He said only about N20 billion of the money had been recovered by the agency.
Bawa made the disclosure yesterday while addressing reporters 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 chairman expressed worry at the slow pace of some fuel subsidy trials.
He promised that the commission would continue to rigorously pursue all its cases in court.
Bawa added that the EFCC was working to arrest an alleged fuel subsidy suspect, Seun Ogunbambo, who was arraigned in 2012 but jumped bail and fled the country.
