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    Wednesday, August 09, 2017

    EFCC Recovers N328.9bn From Petroleum Marketers



    The Economic and Financial Crimes Commission said it had recovered over N328.9bn out of N349.8bn debts from nine major petroleum marketers within the last one year.


    The EFCC Head of Operation, North West Zone, Kano, Mr Adamu Hamisu-Danmusa, disclosed this while addressing newsmen in Kano on Tuesday. He said the debts, which included legacy/bad debts and current debts, were recovered following report from the Independent Petroleum Marketers Association of Nigeria to the commission. 

    “The IPMAN reported to the commission that there are some major marketers that connived with NNPC officials and received fuel allocation but refused to pay the money into the Treasury Single Account.

    So after investigation, we were able to find out that there is N349.8bn as legacy/bad debts and debts on current transactions. The commission was able to make recoveries of N328.8bn from the nine major marketers from July 2016 to July 2017,” he said.

    He said the commission was still making effort to ensure that all the remaining debts were recovered from the marketers and remitted into the FG's Consolidated Account.


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    Item Reviewed: EFCC Recovers N328.9bn From Petroleum Marketers Rating: 5 Reviewed By: Olaniyan Tosin
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