Wednesday, 22 August 2012

Subsidy Fraud: Four more Oil marketers To Be Investigated



The Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo-Iweala on Wednesday released an updated list of oil markets recommended for criminal investigation for fraudulently collecting fund set aside for the fuel subsidy scheme.

In a press statement issued by Paul Nwabuikwu, the Senior Special Assistant to Minister of Finance, Mrs Okonjo-Iweala said “the updated number is 25, four more than the list of 21 released earlier.”

She said that the number has been confirmed by the Presidential Committee on Verification and Reconciliation of Fuel Subsidy Payments.

According to the statement, some of the companies claimed payments for consignments brought in by ships which investigations revealed were either non-existent or were somewhere else in the world.

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