Petrol Subsidy Fraud Involved Law Enforcement – Ex-EFCC Chairman Bawa
Abdulrasheed Bawa, former chairman of the Economic and Financial Crimes Commission (EFCC), has revealed that law enforcement agencies were among those who benefited from the multi-billion-dollar petrol subsidy fraud that plagued Nigeria between 2006 and 2012.
In his new book, The Shadow of Loot & Losses: Uncovering Nigeria’s Petroleum Subsidy Fraud, Bawa disclosed that the country lost $450 million under the Petroleum Support Fund (PSF) scheme during that period.
“Everybody was benefitting from the scale and the scam, including law enforcement,” Bawa said during an appearance on Prime Time, a programme on Arise Television. “People can be compromised in such a way that they will look the other way. It’s a general thing.”
He noted that although some indicted oil marketers were prosecuted and jailed, 80 per cent of the stolen funds have since been recovered.
Bawa also addressed the international perception that Nigeria mismanages recovered assets — a narrative often referred to as “relooting the loot.”
“Nigeria should be able to challenge the international community that is always thinking negatively about our country,” he said. “This idea of relooting the loot shouldn’t be discussed against us as a country. Nigerians and non-Nigerians should have the ability to trust in our leaders.”
He expressed concern that Nigerians often internalise the negative views projected by the international community.
“It has now become like a norm among us Nigerians to take in what the international community perceives us to be,” Bawa added.
