(EFCC) has recovered N46 billion from oil marketers as part of its probe of corruption

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Ibrahim Magu

Ibrahim Magu

The marketers in question were said to have
lifted oil products without paying the required
sum to the body in charge.
According to the Nation, the suspects cannot
yet be named because “the investigation is yet
to be concluded.
“When we conducted our investigation, we
discovered that the affected marketers
sourced products from NNPC through PPMC
without paying for them. In some instances,
these marketers got two or three supplies and
paid for one. Through connivance, they cooked
the books,” an EFCC » source said.
“We discovered that products worth about
N100billion were lifted and unpaid for by
marketers leading to the invitation and
interaction with some of them. So far, we have
been able to recover N46billion out of the
N100billion which the nation had purportedly
lost.
“The cartel wielded enormous influence in the
sector and it almost frustrated the
investigation and the recovery. As a matter of
fact, some forces in NNPC and PPMC did not
want us to go this far,” the source added.

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The agency involved was the Petroleum
Products and Marketing Company (PPMC),
an NNPC subsidiary which has now been
renamed National Petroleum Marketing
Company (NPMC).

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