EFCC Recovers N4.3Billion Subsidy Fund

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The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Larmorde has said the commission has recovered N4.3 billion from Oil subsidy suspects.

The EFCC made the revelation Wednesday during a courtesy call on him by the management of the Petroleum Products Pricing Regulatory Agency (PPPRA) led by its Executive Secretary, Mr. Farouk Ahmed in Abuja.

A statement by EFCC’s Head of Media and Publicity, Mr. Wilson Uwujaren, quoted the EFCC boss as saying that the collaboration between the two agencies was pivotal to the commission’s court cases against the 13 oil marketers indicted in the investigations in the subsidy regime scam.

Larmorde commended PPPRA saying, “I know pressure will be put on your staff. Please bear with us. It is because of the need to sanitize the country,” the statement added.

Earlier, the PPPRA Chief Executive Farouk Ahmed said the visit was to consolidate the relationship between the EFCC and the PPPRA.