Omojuwa

Nuruddeen M. Abdallah & Bashiru Abdullahi A case of alleged multi-billion naira corruption against former Rivers State governor Peter Odili and some officials of his administration has been abandoned by the EFCC, Daily Trust’s investigations have shown. This is even as the “perpetual injunction” against arrest secured by Odili in March 2008 still subsists because the Appeal Court in Port ... Read More »

The Nigerian National Petroleum Corporation said on Wednesday it was owed N1.134tn in government fuel import subsidies, debts which would wipe out savings in the Excess Crude Account. The ECA, where the government saves oil revenues over a benchmark price of $72 a barrel, held $6.9bn on July 19, not enough to pay NNPC’s subsidy claims, let alone a string ... Read More »

Nigeria has never seen anything like it. This story explains how unscrupulous marketers fleeced the nation of N382 billion without supplying a drop of petrol The scale is huge; the method daring and unprecedented. The plot seems like one in a James Bond movie as unscrupulous Nigerian businessmen scripted an unbelievable heist. It was a grand deceit, never seen in ... Read More »

The Economic and Financial Crimes Commission, EFCC, has concluded arrangements to prosecute the first batch 18 suspects implicated in the oil subsidy fraud. The suspects, comprising six oil companies and 11 individuals, will be docked in Lagos courts. The companies involved are: Nasaman Oil Services; Eternal Oil and Gas Plc; Ontario Oil & Gas Plc; Nadabo Energy Limited; Pacific Silver ... Read More »

The pioneer Chairman of the Economic and Financial Crimes Commission, Mr. Nuhu Ribadu, on Tuesday said he would have unravelled those behind the multibillion naira fuel subsidy scam in the country if he was still in charge of the anti-graft agency. The former EFCC boss, who currently chairs the Special Petroleum Revenue Task Force constituted by the Federal Government, stressed ... Read More »