Former Chairman of the Economic and Financial Crimes Commission, AbdulRasheed Bawa, has described Nigeria’s now-defunct fuel subsidy regime as a national scam engineered through entrenched corruption, regulatory compromise, and institutional complicity.
In an interview with Arise News on Monday, Bawa stated that the decades-old subsidy scheme was deliberately manipulated by powerful interests, including oil marketers, security agencies, and public office holders.
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The former anti-graft czar, who served from 2021 to 2023, made the comments while discussing his new book, “The Shadow of Loot and Losses: Uncovering Nigeria’s Fuel Subsidy Fraud,” which details investigations carried out by the EFCC between 2006 and 2011.
Bawa stated, “Everybody was benefiting from the scale and the scam, including law enforcement. People can be compromised in such a way that they will look the other way. It’s a general thing.”
He said the EFCC’s investigation revealed how Nigeria’s subsidy payouts skyrocketed from ₦200 billion in 2006 to ₦2.1 trillion by 2011, a surge that raised red flags and triggered multiple probes.
According to Bawa, the scale of the fraud uncovered during his time at the EFCC was unprecedented….KINDLY READ THE FULL STORY HERE▶
