The Economic and Financial Crimes Commission has announced the recovery of more than N5 billion and $10 million tied to fraudulent refinery turnaround maintenance contracts – www.naijnaira.com reports.
According to BusinessDay, the funds were traced to contractors and government officials linked to rehabilitation projects at the Port Harcourt, Kaduna, and Warri refineries.
A senior EFCC source confirmed that “recoveries of $10 million and N5 billion have so far been made from contractors and officials connected to inflated contracts.”
Investigators revealed that the agency is also pursuing an extra N10 billion and $13 million allegedly siphoned through fraudulent payments.
EFCC Chairman Ola Olukoyede is directly leading the probe, stressing concern over billions spent on refineries that still fail to function.
The commission disclosed that both former and current officials of the Nigerian National Petroleum Company Limited may soon face prosecution over the scandal.
Article updated 18 hours ago. Content is written and modified by multiple authors.
