EFCC recovers N46b from Nigeria oil marketers – The Nation

As part of the ongoing probe of the rot in NNPC, an EFCC source said oil marketers have refunded N46 billion. The marketers lifted products without paying a dime to the defunct Petroleum Products and Marketing Company (PPMC), a subsidiary of the NNPC.

The marketers allegedly conspired with some staff of PPMC and NNPC to perpetrate the fraud. An EFCC source said: “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. We discovered that products worth about N100bn were lifted and unpaid for by marketers.

So far, we have been able to recover N46bn out of the N100bn which the nation had purportedly lost. Some forces within and outside NNPC and PPMC, behind the syndicate, almost frustrated the EFCC team probing the fraud.
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.”…. bt mercy said ‘NO.’….

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