The Financial and Monetary Crimes Fee, EFCC, has uncovered about N70 billion fraud carried out by the Federal Authorities’s gas subsidy programme.

Chairman of EFCC, Abdulrasheed Bawa disclosed this throughout a chat with newsmen on the Ikeja Excessive Courtroom in Lagos State on Wednesday.

Bawa, whereas showing on the courtroom, testified in a gas subsidy trial involving an oil agency, Nadabo Power.

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Talking, he disclosed that the fee would proceed to carefully pursue all its instances in courtroom.

Bawa mentioned: “We have now recognized fraud of about N70 billion perpetrated by the gas subsidy.

“To date the fee has recovered N20 billion from the N70 billion and we’re working to get well the remainder.

“Sure, we’re fearful in regards to the gradual tempo of a number of the gas subsidy instances we charged to courtroom since 2012, when investigations have been concluded.”

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Bawa was not too long ago confirmed as the top of the anti-graft company by the Senate.

His affirmation adopted his nomination by President Muhammadu Buhari.

EFCC has uncovered N70bn gas subsidy fraud – Abdulrasheed Bawa


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