Subsidy Scam: EFCC Recovers N3.4bn From Suspects

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The Economic and Financial Crimes Commission (EFCC) on Thursday in Abuja said it had recovered N3.4 billion from suspects in the oil subsidy scam.

The commission, in a statement, said its Chairman, Mr Ibrahim Lamorde stated this during a courtesy visit by staff of Petroleum Products Pricing Regulatory Agency (PPPRA) to the commission.

Lamorde said that collaboration between the two agencies was pivotal in view of the cases instituted against 13 oil marketers indicted in the subsidy regime.

He called for strengthened partnership between the agencies to sanitise the petroleum industry, adding that it would enhance exchange of information.

The chairman said that PPPRA staff would be required to testify in court or provide evidence for the prosecution of those involved in the subsidy scam.

“I know pressure will be put on your staff, please bear with us. It is because of the need to sanitise the country,’’ Lamorde said.

Mr Farouk Ahmed, the Executive Secretary of PPPRA, who led the delegation, said the visit was to further consolidate the relationship between the EFCC and PPPRA.

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