THE REAL SUBSIDY SCAM by Olusegun Adeniyi

07 Jul

The more the investigations into what passed as fuel subsidy payments, the more the revelations about how some Nigerians simply took the nation for a ride by sharing amongst themselves hundreds of billions of Naira of pubic money. Unfortunately, Nigerians do not seem to be paying much attention to the report of the Verification Committee headed by Access Bank Managing Director, Mr. Aigboje Aig-Imoukhuede. 

Established by the Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, the Committee has come out with a more damning outcome than that of Hon Farouk Lawan’s House of Representatives Ad Hoc Committee, the only difference being that it left out NNPC and other government institutions. 

Unlike the Lawan Report which recommended further investigations into N230 billion unaccounted for by some 71 marketers, the Imoukhuede Report is seeking a refund to the tune of N422 billion from the marketers who were listed. Interestingly, that self-indicting report by the federal government has also established a more iron-cast case of corruption in fuel subsidy payments than the House committee did. Unfortunately, rather than bring to justice those who colluded to gang-rape our nation, Nigerians are now being treated to some sordid “sting operation” audio shows. 

If a simple criminal investigation concerning an alleged bribery of a lawmaker could be so cynically bungled, then we should forget that anybody will ever be punished for the monumental looting in the name of subsidy payments. And that is the real shame.


NOTE: The treatise was culled from Femi Fani-Kayode Facebook page


Twitter: @ Femiolas


Posted by on July 7, 2012 in Thoughts


3 responses to “THE REAL SUBSIDY SCAM by Olusegun Adeniyi

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