Former Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has exposed how billions of naira were siphoned from public coffers through fraudulent subsidy claims.
Papers News reports that Bawa in his new book, “The Shadow of Loot & Losses: Uncovering Nigeria’s Petroleum Subsidy Fraud,” alleged massive corruption in Nigeria’s fuel subsidy regime, detailing how billions of naira were looted through ghost imports, over-invoicin, forged documentation and systemic collusion between corrupt officials and private firms.
In a statement on Wednesday, Bawa, who served as EFCC chairman from 2021 to 2023 under former president, Muhammadu Buhari, revealed how single fuel shipments were used to obtain multiple subsidy payments, while subsidized fuel was diverted to black markets or smuggled out of Nigeria.
