Emmanuel Onyedika

EFCC Recovers ₦38.66bn, Properties in Refinery Probe

EFCC Recovers ₦38.66bn in Refinery Probe, Targets NNPCL Officials, Contractors

The Economic and Financial Crimes Commission (EFCC) has announced that it has recovered more than ₦38.66 billion in cash and assets in connection with its ongoing investigation into alleged diversion of funds earmarked for the repair and upgrade of Nigeria’s government-owned refineries. The probe, described by officials as one of the broadest corruption cases in the country’s oil industry, is expected to lead to criminal charges against several current and former officials of the Nigerian National Petroleum Company Limited (NNPCL) as well as contractors.

EFCC Recovers ₦38.66bn in Refinery Probe, Targets NNPCL Officials, Contractors Read More »

FCCPC Warns Petroleum Marketers Over Failure to Reflect Falling Crude Prices

The Federal Competition and Consumer Protection Commission (FCCPC) has expressed concern over what it described as the failure of petroleum marketers to pass on the benefits of falling global crude oil prices to Nigerian consumers, warning that exploitative practices will attract regulatory action.

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