Breaking: EFCC Recovers N329bn From 9 Oil Firms | Nigeria News Today. Your online Nigerian Newspaper f


The Kano Zonal Office of the Economic and Financial Crimes Commission has recovered a sum of N328,988,296,990.62 from nine major oil marketers across the country.

The amount represents the cost of products the companies collected from the Nigerian National Petroleum Corporation and its subsidiary, Pipelines and Product Marketing Company, PPMC, but refused to pay as and when due. The recovery was sequel to a petition against the leadership of Nigeria National Petroleum Corporation, NNPC and PPMC.

The petitioners had accused the NNPC and PPMC of conniving with the nine oil marketers to divert a whooping sum of N40 billion belonging to the government agency and asked the EFCC to move to recover the cash. The EFCC in a swift reaction referred the petition to a special task force which swung into action by conducting discrete investigation.

The EFCC said in a statement on Wednesday that 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 N91,519,485,204.44 between 2010 and 2016.

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