- Ex-EFCC chairman Abdulrasheed Bawa to release a book on Nigeria’s petrol subsidy fraud on June 5.
- The book titled, ”The Shadow of Loot & Losses’ exposes schemes like ghost importing, over-invoicing, and smuggling.
- Bawa calls for greater transparency in public finance, drawing from his experience investigating subsidy-related corruption.
The former chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, is set to release a new book on the fraud in Nigeria’s petrol subsidy scheme.
EKO HOT BLOG reports that the book titled ‘The Shadow of Loot & Losses: Uncovering Nigeria’s Petroleum Subsidy Fraud’ will be released on June 5.
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It is published by Cable Books and will be distributed nationwide by Roving Heights Bookstore.
Bawa served as the chairman of the EFCC from February 2021 to June 2023.
In the book, the former EFCC boss drew from his experience as a key investigator to detail how the petrol subsidy scheme was used to syphon public funds.
While recalling how billions of naira were recovered and several culprits were prosecuted, he highlighted how entrenched corruption allowed the fraud to flourish for years.
Bawa detailed the strategies deployed to engage in the fraud, including ghost importing and over-invoicing; manipulation of bills of lading; round-tripping and double claims; and diversion and smuggling.
He noted that the book is not just a chronicle of fraud but a call to action and transparency in public finance management in Nigeria.
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During his swearing-in ceremony on May 29, 2023, President Bola Tinubu announced the end of the petrol subsidy scheme, and this has affected the price of fuel, which earlier sold at N190 and currently sells at N850 and above.
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