• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, June 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Former EFCC Chairman, Bawa Unveils Book On Fuel Subsidy Fraud

by Ejike Ejike
3 weeks ago
in News
EFCC
Share on WhatsAppShare on FacebookShare on XTelegram

Former chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has released a new book titled ‘The Shadow of Loot and Losses: Uncovering Nigeria’s Petroleum Subsidy Fraud.’

Advertisement

The exposé provides an authoritative account of Nigeria’s multi-trillion-naira fuel subsidy scandal, unraveling the inner workings of one of the country’s most pervasive financial crimes.

Drawing from his firsthand experience as a key investigator on the EFCC’s special team that probed the 2012 subsidy fraud, Bawa reveals the staggering scale, complexity, and audacity of the schemes used to siphon public funds under the guise of fuel subsidy payments.

His insider narrative chronicles how billions of naira were recovered and several culprits brought to justice, while also shedding light on how entrenched corruption allowed the fraud to flourish for years.

In the book, published by CableBooks, Bawa details multiple fraudulent strategies including ‘ghost importing and over-invoicing: Companies submitted claims for fuel that was never imported or inflated shipment volumes to receive excessive subsidy payouts; manipulation of bills of lading: By altering shipping documents, fraudsters exploited international price fluctuations to claim higher subsidies.

RELATED

Uplift Our Forebears’ Culture, Traditions, Olowu Urges Yoruba Monarchs

Uplift Our Forebears’ Culture, Traditions, Olowu Urges Yoruba Monarchs

18 minutes ago
PICTORIAL: Remi Tinubu Hosts African First Ladies In Abuja

PICTORIAL: Remi Tinubu Hosts African First Ladies In Abuja

38 minutes ago

 

In a statement on behalf of CableBooks, Vic Akinrogunde, said other areas the book exposed include round-tripping and double claims: Single shipments were often used to obtain multiple subsidy payments. Diversion and smuggling: Subsidised fuel was frequently diverted to black markets or smuggled out of Nigeria for profit.

 

Bawa explained that these practices were enabled by forged documents, weak regulatory oversight, and systemic collusion between corrupt government officials and private sector actors.

 

“The Shadow of Loot & Losses is not just a chronicle of fraud. It is a call to action – a demand for transparency, accountability, and reform in Nigeria’s public finance management, especially in the oil sector,” he said.

 

 

 

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Abdulrasheed BawaEconomic and Financial Crimes Commission (EFCC)
SendShareTweetShare
Previous Post

Reps Raise Concerns As N250bn Missing From Public Coffers

Next Post

Okorocha Denies Discrediting APC, Reaffirms Commitment

Ejike Ejike

Ejike Ejike

You May Like

Uplift Our Forebears’ Culture, Traditions, Olowu Urges Yoruba Monarchs
News

Uplift Our Forebears’ Culture, Traditions, Olowu Urges Yoruba Monarchs

2025/06/27
PICTORIAL: Remi Tinubu Hosts African First Ladies In Abuja
News

PICTORIAL: Remi Tinubu Hosts African First Ladies In Abuja

2025/06/27
Nigerians Among 8,000 Entrepreneurs At QNET’s V-Malaysia 2025 Convention
Business

Nigerians Among 8,000 Entrepreneurs At QNET’s V-Malaysia 2025 Convention

2025/06/27
nlc ajaero
News

NLC Demands 100% Salary As Widowhood Leave Allowance, Others

2025/06/27
Despite Renewed Attempt: Gas Supply Bottlenecks, Others May Stall Federal Govt’s CNG Initiative
News

100,000 Petrol Vehicles Converted To CNG In 1 Year — Federal Gov’t

2025/06/27
Tinubu, Nguema Push For Stronger Nigeria-Gabon Relations
News

Tinubu, Nguema Push For Stronger Nigeria-Gabon Relations

2025/06/27
Leadership Conference advertisement

LATEST

Uplift Our Forebears’ Culture, Traditions, Olowu Urges Yoruba Monarchs

Trump Ends Trade Talks With Canada, Mulls Fresh Tarrifs

PICTORIAL: Remi Tinubu Hosts African First Ladies In Abuja

Nigerians Among 8,000 Entrepreneurs At QNET’s V-Malaysia 2025 Convention

NLC Demands 100% Salary As Widowhood Leave Allowance, Others

100,000 Petrol Vehicles Converted To CNG In 1 Year — Federal Gov’t

Tinubu, Nguema Push For Stronger Nigeria-Gabon Relations

Tinubu To Embark On State Visit To Saint Lucia, Brazil For BRICS Summit

Tinubu Confers GCON Honor On Outgoing Afreximbank Boss Oramah

JUST-IN: NAPTIP Declares Speed Darlington Wanted Over Alleged Rape, Cyberbullying

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.