N5 billion recovered, 40 arrested over oil
subsidy fraud— EFCC
on november 11, 2014 at 6:24 am in news
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By Austin Ogwuda
Enugu—Executive Chairman of the Economic and Financial
Crimes Commission, EFCC, Mr. Ibrahim Lamorde, yesterday,
in Enugu, said the commission had cracked oil subsidy
fraud in which over N5 billion had been recovered and more
than 40 suspects arrested.
Lamorde, who disclosed this at a workshop on effective
reporting of financial crimes organized by the commission
for journalists in South-East zone, also said a couple had
been arrested in Port Harcourt, Rivers State, for allegedly
defrauding a new generation bank of N855 million.
Represented by the Deputy Director, Public Affairs
Department, Mr. Osita Nwajah, the EFCC chairman said:
“Cases abound in our offices across the six zones of the
country.
“In the oil subsidy fraud being investigated by the
commission, over N5 billion has been recovered, while
more than 40 suspects are being prosecuted in court.
“In the pension fraud matter, the commission has secured
one conviction and recovered property valued at over a
billion naira.
“We need to pay attention to these cases. It is not only
when a former governor is arrested that the media would be
interested.
“As I speak, the commission is investigating a case of fraud
in a new generation bank in Port Harcourt where a
customer, working with his wife who is a staff of a new
generation bank, defrauded the bank of N855 million.
“The suspect, one Ochenna Ogbonnaya Dike cashed in on
system glitches to perpetuate the scam over a period of five
months by transferring funds from the bank into accounts in
the new generation bank.
“Other accomplices in the scam,” he went on, “are currently
on the run. But EFCC will get them as we are determined to
check all incidences of fraud in the banking sector.
“I urge you (media) to take greater interest in cases that are
either being investigated or prosecuted by the commission.
“Where media interest in corruption cases fizzles out after
arraignment is unhealthy.”

For the record, GEJ does his job, efcc do theirs

Guy ... We live in times when EFCC now merely receives "offerings" only.

If you know how much has been stolen since GeJ's administration.... Compared to what EFCC has recovered...you will know that EFCC is simply doing NoThInG

N5billion out of N2trillion (ie Two thousand billion naira), and Jonathan has done a marvellous work!!

Wow!!

.

Finally, a Jonathanian creates a thread to nail his own boss

Typing...

^^^^^ Of your so called trillions, how much was adjudged as theft or over payment. Repeating your misinformation 1000 times will not make it true.

EFCC is good at discovering stolen money but they cannot prosecute the thieves since Jonathan became president. EFCC is useless as long as this administration is concerned.

soe:
Guy ... We live in times when EFCC now merely receives "offerings" only.

If you know how much has been stolen since GeJ's administration.... Compared to what EFCC has recovered...you will know that EFCC is simply doing NoThInG

Can you tell us how much was stolen under the previous administrations of Yar'Adua & Obasanjo

Kindly take into consideration the fact that trillions were budgeted every year by these administrations for revival and maintenance of

- roads,
- railways,
- electricity,
- agriculture etc

but NOTHING happened

Some hacket cannot be buried in nigeria simply bcoz of some brutal corrupt minded pple....corrupt pple with corrupt president and corrupt efcc...dey did nt even get 5% of the whole money...may God helep una in dis nation.

What are you saying? 5billion out of trillion embezelled from subsidy without notable procsecution? Is that a pass mark? You need to update your brain OS or reinstall . i am sure you are one of those they cook up story for to gain space in your heart. i pity your life. Truth be told. What investigation are they still doing concerning the fuel subsidy. Imagine Uba going free. SMH.