STEP UP PROSECUTION OF FUEL SUBSIDY CORRUPTION SUSPECTS –GROUP URGES FG

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Written by Mohammed Shosanya, Lagos The Africa Network for Environment and Economic Justice (ANEEJ) has commended the Economic and Financial Crimes Commission (EFCC) over its renewed efforts in pursuing ongoing fuel subsidy corruption cases in the country. The group’s action was sequel to the accelerated pace some of the cases have been receiving in the […]

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Curbing endless fuel subsidy swindles

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President Goodluck Jonathan’s demonstration of government’s apparent helplessness in checking rampaging economic terrorists eating up 60 percent of fuel subsidies meant to assist the poor, does not inspire hope of ending the nation’s financial hemorrhage that denied the citizenry of improved socioeconomic welfare. The President had August 28 failed woefully to address satisfactorily the age […]

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Oil Marketers Groan under N180bn Unpaid Verified Subsidy Claims

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18 Oct 2014 (This day Newspapers) Minister of Finance and Co-coordinating Minister for the Economy, Ngozi Okonjo-Iweala Fall in crude oil prices may stall payment Yemi Adebowale About 46 oil marketers in the country are grappling under the yoke of heavy debts following the failure of the Federal Ministry of Finance to pay them the […]

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Oil Price Decline Opens Window for Subsidy Removal, Increased Savings

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17 Oct 2014 • Trillions of naira could be ploughed back to govt revenue • Cash-strapped states to benefit • Okonjo-Iweala warns about effects of falling crude price Omololu Ogunmade in Abuja and Ejiofor Alike in Lagos As oil prices continue to make their descent and are expected to fall below $80 a barrel, oil […]

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N1.9b Subsidy Scam: ‘Wagbatsama, Others Have Case To Answer’ – Court Rules

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Walter Wagbatsama; Adaoha Ugo-Ngadi; Fakuade Babafemi Ebenezer and Ontario Oil & Gas Nigeria Limited are alleged to have fraudulently obtaining the sum of N1,959,377,542.06 from the Petroleum Support Fund for a purported importation of 39.2million litres of Premium Motor Spirit. BY WILSON UWUJARENOCT 13, 2014 Walter Wagbatsama, Adaoha Ugo-Ngadi and their company, Ontario Oil and […]

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N1.9bn Fuel Subsidy Fraud: Court Frees Accountant Of Complicity

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AGENCY REPORTS — Oct 10, 2014 An Ikeja High Court on Friday discharged an accountant, Ezekiel Ejidele, who was tried for complicity in a N1.9 billion fuel subsidy fraud. Justice Lateefat Okunnu discharged Ejidele, a staff of Akintola Williams Delloite, after upholding his no-case submission application. The News Agency of Nigeria (NAN) reports that Ejidele […]

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Govs battle FG at S’Court over fuel subsidy deductions

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October 7, 2014 by Ade Adesomoju, Abuja (The punch newspapers) The Supreme Court has slated December 8 for hearing in a suit filed by the governors of the 36 states of the federation against the Federal Government challenging the manner of deduction of fuel subsidy funds from crude oil proceeds. The governors, who sued through […]

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Witness, EFCC disagree on threat to life

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by: Adebisi Onanuga 7th October 2014 (The Nation Newspaper’s) Witness of the Economic and Financial Crimes Commission (EFCC), Kehinde Akinmolayan, has denied the commission’s claim that his life is under threat. Akinmolayan, who was said to be the star witness in a N1.1 billion fuel subsidy fraud charge brought by the commission against two oil […]

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N1.1bn subsidy fraud: Court summons EFCC witness

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by MATTHEW IRINOYE on Sep 30, 2014 Justice Lateefat Okunnu of a Lagos State High Court, sitting in Ikeja, yesterday issued a witness summon against a witness of the Economic and Financial Crimes Commission, EFCC, Engineer Kehinde Akinmoloyan, who is a prosecution witness in the on-going trial of an oil marketer, Opeyemi Ajuyah, over the […]

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N1.1BN SUBSIDY FRAUD: EFCC, oil marketer differ on diversion of products

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September 17, 2014 An oil marketer, Opeyemi Ajuyah, yesterday, faulted the claim by the Economic and Financial Crimes Commission (EFCC) that her company diverted over 10,000 metric tonnes of petrol. efcc logoAjuyah and her company, Majope Investment Ltd, are being prosecuted by the EFCC before Justice Lateefat Okunnu of an Ikeja High Court. They are […]

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