EFCC Recovers N328.9bn From Oil Marketers

The Economic and Financial Crimes Commission, EFCC, has recovered a total of N328.9bn from nine major oil marketers in one year.

This was revealed by the spokesman of the commission, Mr Wilson Uwujaren, in a statement on Wednesday.

The statement said the oil marketers include; Conoil Plc, Total Plc, OVH Energy Plc, Oando Plc, Forte Oil and Gas Plc, Mobil Plc, MRS Oil Plc, and NIPCO Oil Plc.

Uwujaren revealed that the recovery was made by the Kano office of the commission between July 2016 and July 2017, adding that it followed a petition against the management of the Nigeria National Petroleum Corporation and its subsidiary, Pipelines and Product Marketing Company.

He said the petition alleged that N40bn had been diverted by the major oil marketers in connivance with the leadership of the NNPC and PPMC.

“The EFCC, in a swift reaction, referred the petition to a special task force which swung into action by conducting a discrete investigation.

“Findings by the operatives of the EFCC revealed that the oil marketers were actually indebted to the Federal Government of Nigeria to the tune of N91.5bn between 2010 and 2016.

“Further investigation into the allegation also revealed that the oil marketers had continued to obtain petroleum products from the government without proper payment, in violation of the NNPC/PPMC credit facility regulations.

“A probe of which further led to the discovery of N258.9bn.’’

Uwujaren said that officials of NNPC/PPMC and all the managing directors of the companies concerned were invited to the Kano zonal office of the commission, adding that their statements were recorded after which the recovery process began.

“So far, a sum of N328.9bn has been recovered from the major oil marketers. The outstanding debt now stands at N20.7bn,’’ he said.

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