http://businessnews.com.ng/2012/07/24/efcc-to-arraign-subsidy-thieves-today-partners-interpol-on-flight-risk-suspects/?utm_source=&utm_medium=twitter&utm_campaign=efcc-to-arraign-subsidy-thieves-today-partners-interpol-on-flight-risk-suspects


The Economic and Financial Crimes Commission (EFCC) is set to begin to arraign fuel subsidy thieves in Lagos today. In all directors representing seven companies including Eterna Oil and Nasaman Oil Services Plc will have chargesfiled against them before a Lagos High Court today.
Businessnews learned that the companies and their directors will be charged before Justice Samuel Candid-Johnson, Justice Lawal Akapo, Justice Habeeb Abiru, Justice Adeniyo Onibajo andJustice Dotun Adefope-Okojie, all selected by Lagos Chief Judge, Justice Adeyoola Phillips.
The EFCC is said to have chose Lagos for the prosecution of the marketers due to the fact that the crimes occurred at Lagos ports, and furthermore most of the companies are registered with business addresses in Lagos.
The EFCC in the course of their investigation is said to have identified marketers who intentionallycollected subsidies fraudulently from government.
The EFCC uncovered the fraudsters through an audit check which revealed that the bill of ladings marketers submitted to their offshore banks for which their Letters of Credit (LC) were opened with Nigerian banks were quite different from the bill of ladings submitted to the Petroleum ProductsPricing Regulatory Agency (PPPRA) for subsidy claims.
This alerted the EFCC to the Fraud and when they approached the marketers, they admitted to the shady practices.
The EFCC is also said to be on the verge of prosecuting an additional set of subsidy thieves in the form of petroleum products marketers who claimed subsidy on fuel imported onboard ghost vessels. Ghost vessels are decommissioned ships that are no longer operational and could not have possibly been used to import any cargo into the country.
According to a source close to the investigation, “As the EFCC concludes its investigation on other marketers, it recognizes that some of the marketers are flight risks due to their ownership ofprivate jets.
“As such the EFCC has partnered Interpol and State Security Services Agents in order to ensure that none of these marketers escape the long armof the law.”



http://premiumtimesng.com/mobile/business/6190-efcc_to_arraign_pdp_chairman_s_son_for_subsidy_fraud.html

The first batch of subsidy thieves will be in the dock Tuesday
Barring any last-minute change in its plan, t he Economic and Financial Crimes Commission (EFCC) will on Tuesday, at the High Court of Lagos,arraign the first batch of companies believed to have defrauded the country in subsidy claims totalling over N2.7trillion.
A source familiar with the matter told PREMIUM TIMES Monday night that at least six company executives including Mahmud Tukur, the son of the National Chairman of the People’s Democratic Party (PDP), Bamanga Tukur, would docked to answer questions over their involvement in the monumental fuel scam.
Mahmud is the Managing Director/Chief Executive Officer of Eterna Oil Plc, which was indicted in the report, and listed by the Federal Inland Revenue Service (FIRS) among companies that reportedly benefited from the Petroleum Support Fund (PSF) Scheme, but defaulted in their tax obligations.
The other board members of the company, who might be put in the dock in the absence of Mahmud, include the former Action Congress of Nigeria (ACN) presidential running mate to Nuhu Ribadu in the 2011 election, Fola Adeola, who is the Chairman of the Board; Boyi Tukur and Ojo Michael Ade, owner of Elizade Motors, a Toyota dealership.
It was gathered that the other companies, whose proprietors are to be arraigned, include those owned by the former PDP Chairman and immediate past Chairman of the Board of the Petroleum Products Pricing Regulatory Agency (PPPRA), Ahmadu Ali

Where are all those GEJ critics!! I thought u guys said he doesn't have d balls to fight corruption!! U all will keep eating ur words each passing day, trust me!

We are watching.Initial gragra.Too early to rejoice.We have seen all this stunts and smoke screens before,When they re serious we will know.And i hope it wont just be this unknown names and faces,i want to see the bigger fishes docked and jailed too.Until then,i dont see any feat achieved.

What bigger fishes than PDP chairman son, and former PDP chairman do u expect These are his own party members...tell me which nigeria president have ever had the guts to try dat! And remember this is d first batch of people to prosecute...more are coming

billante: Where are all those GEJ critics!! I thought u guys said he doesn't have d balls to fight corruption!! U all will keep eating ur words each passing day, trust me!

Do you suffer from low self esteem or something of the sort? What does this news mean and what is there to rejoice over? When we start hearing of prosecution, recovery of funds and jail time then we can start taking things serious. Or haven't we been down this charade before? People want him to suceed in the fight against corruption because we want Nigeria to work. And this news still reveals and shows nothing. Heck we even had more unproductive type of this gra gra in OBJs time and how many high profile people ended up in jail again?

billante: Where are all those GEJ critics!! I thought u guys said he doesn't have d balls to fight corruption!! U all will keep eating ur words each passing day, trust me!

don't mind the talk talk fooools.we just pray for the good intentions of the gov to be manifested