The Economic and Financial Crimes Commission, EFCC, said it recovered over N329 billion from nine major oil markets, being debts owed the Nigerian National Petroleum Commission, NNPC, for supply of refined petroleum products.
The EFCC’s Head of Operations in the North West, Hamisu Dan-Musa, said this in Kano on Tuesday at a news briefing on the performance of the agency in the first seven months of this year.
He also revealed the recovery of N305,000 minted five Naira notes from a Chinese national and 894 Automated Teller Machine, ATM, cards from a Nigerian, both of whom attempted to smuggle the notes and ATM cards to Dubai through the Kano International Airport towards the end of July.
According to Mr. Danmusa, the EFCC recovered the money from the major oil marketers after investigating a petition by a group of indigenous petroleum marketers operating under the platform of the Independent Petroleum Marketers Association of Nigeria, IPMAN.
He told journalists that the amount was recovered from the marketers between July 2016 to July 2017 and was made available to the Agency by IPMAN and a proactive investigation made by operatives of the zonal command across the country
An analysis of the money recovered indicates that out of about N92 billion declared as bad debts, about N87 billion was recovered from the nine major oil marketers.
Also, of the N258 billion tagged as ‘Debts on Current Transactions’ of petroleum products provided by NNPC to the major oil marketers, over N242 billion was recovered.
Mr. Danmusa said the EFCC investigated 260 cases involving corporate bodies and individuals since the beginning of the year.
He said 31 of the cases were taken to court, and 24 persons were sentenced to various jail terms.
He further revealed that investigation concerning the debt owned to NNPC by the nine Oil Majors is still ongoing.
He commended the management of the NNPC for the support which led to the recovery of the debts and mentioned that the money has been paid into the federation account through the corporation.
Mr. Danmusa also revealed the recovery of N305,000 minted five Naira notes from a Chinese national and 894 Automated Teller Machine, ATM, cards belonging to some banks in the country from a Nigerian who both attempted smuggling the notes and ATM Cards to Dubai through Kano International Airport towards the end of July.
A combined team of security personnel at the Kano airport intercepted the Chinese national, Ma Yonvin, and the Nigerien, Yasir S. Abdullahi, he explained.