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REPS COMMITTEE UNCOVERS N229 SUBSIDY FRAUD

Reps leak report

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By EMMA UJAH
ABUJA — THE House of Representatives Committee which probed the subsidy on Petroleum products by the Federal government has uncovered N229,706,023,200.00 fraud in the payment of the subsidy between 2010 and 2011

However, a group which calls itself Stakeholders Forum has raised questions on why the Committee leaked its report to the public hours before submitting it officially to the House of Representatives.

They alleged that the Committee had allowed itself to be used by enemies of the government to bring down the administration of President Goodluck Jonathan.

It wondered why the period of the probe did not cover up to 1999 since the Federal Government had been paying subsidy on petroleum products.

Meanwhile, the Subsidy probe committee, headed by Hon. Faruk Lawan in its recommendation called in the Economic and Financial Crimes Commission (EFCC) to go after the companies that took more money as subsidy than was due them.

Forty-nine companies, according to the report, were found guilty of subsidy abuse while the “office of the Accountant-General of the Federation should account the sum of N213.678 billion, being total of excess payments made by it over and above what PPPRA identified as paid in 2009 and 2010”.

Via Vanguard

PS: I am absolutely certain the subsidy scam is above a trillion. This quoted number is a joke. We await the official report. Watching the televised hearing and being at the venue once was enough for one to know the above figures was just one or two “marketers” got away with.

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Omojuwa

In the beginning...Let there be Light http://en.wikipedia.org/wiki/Japheth_J._Omojuwa

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