EFCC Re-Opens 2011 Fuel Subsidy Scandal

The Economic and Financial Crimes Commission, EFCC, has reopened investigations into alleged N10.9 billion 2011 subsidy scam, Daily Trust reports.
Reports have it that the anti-graft body has already been grilling some top officials of the IPMAN Investment Company Limited, a company incorporated by some independent marketers to participate in the importation of refined products into the country in 2011.
This has helped in giving a direction to the probe with invaluable leads currently being gathered to prosecute the case which has questioned the anti-graft war of President Muhammadu Buhari.

The Vice Chairman of IPMAN Investment Company Ltd, who is also the president of IPMAN, Elder Chinedu Okoronkwo, confirmed that he received a letter from the Police Special Fraud Unit, Department of Criminal Investigations, requesting him to release some of his members including the former president, Alhaji Aminu Abdulkadir, and Obasi Lawson for scrutiny.

He a reporter that: “We at the IPMAN secretariat are happy that the authorities are re-opening this case, because as a vice chairman of this company, we are kept in the dark.

“We don’t know when and how the IPMAN Investment Company Ltd imported any product, but all we saw was the release of N10.9 billion as subsidy reimbursement, that is why we started asking questions.

“Let’s keep IPMAN politics aside, this is national issue, let them provide the information and details of how much product was imported, who lifted it, which bank account the marketers paid the money to lift such product, and which bank opened the LC for them to import such product for which they deserved N10.9 billion reimbursement.

“These are the questions we asked Aminu and co but they rather tried to shift attention to another issue,”Okoronkwo said.


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