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EFCC recovers over $11 billion

06 November 2014, 16:37

Abuja - Wilson Uwujaren, Head of Media and Publicity, Economic and Financial Crimes Commission  (EFCC) on Wednesday said the commission had recovered assets worth over 11 billion dollars in 11 years.

Uwujaren said this in Abuja at news briefing of the Forum of Spokespersons of Security and Response Agencies (FOSSRA) convened by I. Nigerian Initiative, an NGO.

He said that the commission had handled thousands of cases in the area of economic and financial crimes.

"And I want to report that we have recorded over 100 convictions as a result of our investigations.

"In terms of assets recovery, we have recovered assets of well over 11 billion dollars in 11 years and I think that is a record.’’

According to him, the cases of oil subsidy being prosecuted by the commission are on course as over 40 persons and organisations are currently under prosecution in various courts across the country.

"One of the suspects, Seun Ogunbambo, Managing Director of Fargo Energy Ltd., who was docked for stealing N4.5 billion in bogus subsidy claims, had absconded and refused to attend trial.

"Consequently, he was declared wanted by the commission.  I wish to restate that the fugitive is still on the commission’s wanted persons’ list.

"I like to also use this forum to inform members of the public that the commission is also looking for one Azmat Mahmood, an international petroleum trader whose company, Nimex Petroleum Ltd., is involved in the case,''  he said.

Uwujaren said that ASB Investment, Aro Samuel Bamidele and Abiodun Bankole were already standing trial before an Ikeja High Court for the same case.

Also read: EFCC recovers N550 000 for blind woman

He said that Nimex Petroleum Ltd. is allegedly the trading company that purportedly sold and shipped 38 010 413 litres of Premium Motor Spirit to the defendants for which they received more than N1.34 billion as subsidy for products supplied.

Uwujaren said that Mahmood was a German citizen of Pakistani-extraction and charges were filed against his company in July 2013 but all efforts to get him to appear in court had been futile.

On oil theft, the EFFC spokesperson said that the commission had made commendable strides in checking the menace with the assistance of other law enforcement organisations, especially the Navy and Army.

He said that a few months ago, two Indians , Sailesh Singh, Chadrashekar Sharma, were jailed after a successful prosecution by the commission.

Uwujaren said that the duo were among 12 suspected oil thieves arrested in Brass, Bayelsa State in 2012 by the Joint Task Force with 157 822 litres of suspected stolen crude.

He said that 12 persons were currently being prosecuted for their involvement in fraud at both the Head of Service Pension Office and the Police Pension Office.


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