EFCC recovers N328.9 billion from Conoil, Oando, 7 others

EFCC Operatives
EFCC Operatives

The Economic and Financial Crimes Commission, EFCC, says it has recovered a total of N328.9 billion from nine major oil marketers in one year.

The spokesperson of the commission, Wilson Uwujaren, disclosed this in a statement on Wednesday in Abuja.

Mr. Uwujaren identified the marketers as NNPC Retails, Conoil Plc, Total Plc, OVH Energy Plc, Oando Plc, Forte Oil and Gas Plc, Mobil Plc, MRS Oil Plc, and NIPCO Oil Plc.

He said the recovery was made by the Kano office of the commission between July 2016 and July 2017.

According to him, the recovery followed a petition against the management of the Nigeria National Petroleum Corporation, NNPC, and its subsidiary, Pipelines and Product Marketing Company (PPMC).

He said the petition alleged that N40 billion had been diverted by the major oil marketers in connivance with the leadership of the NNPC and PPMC.

“The EFCC, in a swift reaction, referred the petition to a special task force which swung into action by conducting discrete investigation.

“Findings by the operatives of the EFCC revealed that the oil marketers were actually indebted to the Federal Government of Nigeria to the tune of N91.5 billion between 2010 and 2016.

“Further investigation into the allegation also revealed that the oil marketers had continued to obtain petroleum products from the government without proper payment, in violation of the NNPC/PPMC credit facility regulations.

“A probe of which further led to the discovery of N258.9 billion.’’

Mr. Uwujaren explained that the total amount of debt stood at N349.8 billion following the latter discovery.

He further said that upon conclusion of the preliminary investigation, officials of NNPC/PPMC and all the managing directors of the companies concerned were invited to the Kano zonal office of the commission.

There, he added, their statements were recorded following which the recovery process began.

“So far, a sum of N328.9 billion has been recovered from the major oil marketers. The outstanding debt now stands at N20.7 billion,” he said.



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  • Freedom Bini

    Debt collector or loot collector?

    • serubawon70

      ‘Looted debt’ collector

  • omoregie osawe

    The sum 328.9 billion Naira is mind boggling. But like all statements emanating from this administration I am taking it with scepticism

  • Justice Equity

    Another story aimed at distracting Nigerians, if in the course of the normal transaction, a company defaults in retiring a credit facility as at when due,should that also fall into efcc s corruption war.
    Until Nigerians say to these guys, enough is enough, these guys will continue to believe that all Nigerians have become almajiri imbeciles that can believe any story without asking meaningful questions.

    • Jb

      Which Nigerians are you referring to? Only supporters of corruption like you will shout enough for dealing with thieves like you. The trouble has just started for all who have soiled there hands and stomachs with stolen resources. You will never no peace on earth and heal fire shall be your permanent place.

  • Spoken word


  • George

    Liar government buying time to justify their uselessness

    • soyo

      Thief! We know you will never be happy about this. The train will get to your bus stop soon and whatever your benefactors have looted in the past will be recovered, and you will cry at last. Hello EFCC, there’s one more thief here ooooooo!!!

  • Sam. A

    Good job EFCC, but why are u hiding the names of top NPPC and PPMC who aided and abetted these frauds . Our civil servants are the number one rouges in the business of corruption ,worst than police and judiciary. Let us know their names and the banks that helped them bank the stolen money , after all we read the names of those who steal goat and phone everyday in the media . No more cover up , because it further embolden them to steal more .

    • Frank Bassey

      Good observation. You will not hear their names because they are not members of the opposition party.

  • Frank Bassey

    “He said the petition alleged that N40 billion had been diverted by the
    major oil marketers in connivance with the leadership of the NNPC and
    PPMC”. So, OANDO is part of the corrupt act?

  • Joe

    Well-done EFCC. Whether the senate likes it or not, Nigerians are happy with your excellent efforts. Keep giving looters nightmare.

  • Netanyahu

    All these stories sef. If I say I don’t believe it line, hook and sinker, they say I am a wailer working for looters. This amount is outside of 2017 budget and is enough to pay off arrears of salaries and pensions in all the defaulting states or federal universities lecturers receiving a percentage of their salaries due to shortfall in allocation from the federal government. Again why are the personae involved in all this crime not arrested or prosecuted or even exposed? Why still retain them in service. This why I receive this story with a pinch of salt. If all the monies EFCC claimed it recovered is true, Nigeria may have no need to borrow, at least locally. But it has all become circus show to entertain us whenever there is nothing to cheer in this clueless administration.