Nigeria has never seen anything like it. This story explains how unscrupulous marketers fleeced the nation of N382 billion without supplying a drop of petrol

The scale is huge; the method daring and unprecedented. The plot seems like one in a James Bond movie as unscrupulous Nigerian businessmen scripted an unbelievable heist.

It was a grand deceit, never seen in Nigeria’s history. To benefit from the 2011 fuel subsidy largesse, the oil companies “manufactured” fictional oil ships (vessels)  they claimed traversed seas and oceans of the world carrying imaginary petrol, with Nigeria the final destination of the product, the Technical Committee set up by the Federal Government discovered.

For supplying this phantom product to Nigeria, the seven companies involved pocketed a princely N13 billion naira from the 2011 fuel subsidy payments, the committee’s report, secured by PREMIUM TIMES, stated.

Some other companies, not wanting to create fictional vessels, decided to space- travel existing ones; such that real vessels, which were definitely in countries like China and UAE, discharged petrol into storage depots in Nigeria at the exact time they were in those other countries.  The 11 companies involved in this category of fraud pocketed N21 billion from the 2011 subsidy payments, the report stated.

http://premiumtimesng.com/business/6226-exclusive_nigeria_s_biggest_oil_fraudsters_the_worst_subsidy_sca.html

But this country is too rich fa....the funny thing is one person wants it all for him or herself...why we greedy like dis na?

1800bc: But this country is too rich fa....the funny thing is one person wants it all for him or herself...why we greedy like dis na?

This you just know? Sorry for u.

supplement ......


BN Hot Topic: If Your Father is a Corrupt Politician, Will You Disown Him?

http://www.bellanaija.com/2012/07/26/bn-hot-topic-if-your-father-is-a-corrupt-politician-will-you-disown-him/

Shey! Now am beginning to get scared of the breeds that this country is nurturing . This is fearful and unbelievable. If much effort as put in by this fraudsters is inculcated into developing this country am sure we would be climbing a higher ladder now. Nigerian!!! Toooo bad

Afro_Blue: supplement ......


BN Hot Topic: If Your Father is a Corrupt Politician, Will You Disown Him?

http://www.bellanaija.com/2012/07/26/bn-hot-topic-if-your-father-is-a-corrupt-politician-will-you-disown-him/