Abdulrasheed Bawa, former chairman of the Economic and Financial Crimes Commission (EFCC), says law enforcement agencies benefitted from the petrol subsidy sleaze.
In his new book, ‘The Shadow of Loot & Losses: Uncovering Nigeria’s Petroleum Subsidy Fraud’, Bawa said Nigeria lost $450 million to subsidy fraud under the Petroleum Support Fund (PSF) scheme, from 2006 to 2012.He added that some of the indicted oil marketers were prosecuted and jailed, while 80 percent of the stolen funds have been recovered.