Olusegun Adeniyi: N422 billion – The real Subsidy Scam exposed by Aig-Imoukhuede

by Segun Adeniyi

The more the investigations into what passed for fuel subsidy payments, especially in 2011, the more the revelations about how some Nigerians simply took the nation for a ride by sharing among themselves hundreds of billions of Naira of pubic money. Unfortunately, Nigerians do not seem to be paying much attention to the report of the Verification Committee headed byAccess Bank Managing Director, Mr. Aigboje Aig-Imoukhuede.

Established by the Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, the Committee has come out with a more damning outcome than that of Hon Farouk Lawan’s House of Representatives Ad Hoc Committee, the only difference being that it left out NNPC and other government institutions.

Unlike the Lawan Report which recommended further investigations into N230 billion unaccounted for by some 71 marketers, the Imoukhuede Report is seeking a refund to the tune of N422 billion from the marketers who were listed. Interestingly, that self-indicting report by the federal government has also established a more iron-cast case of corruption in fuel subsidy payments than the House committee did. Unfortunately, rather than bring to justice those who colluded to gang-rape our nation, Nigerians are now being treated to some sordid “sting operation” audio shows.

If a simple criminal investigation concerning an alleged bribery of a lawmaker could be so cynically bungled, then we should forget that anybody will ever be punished for the monumental looting in the name of subsidy payments. And that is the real shame.

*Op-ed pieces and contributions are the opinions of the writers only and do not represent the opinions of Y!/YNaija. This piece was first published in Thisday


Comments (2)

  1. …and today Premium Times is reporting that the a company owned by Mr. Aigboje Aig-Imoukhuede was also indicted by the Farouk report. Now the indicted has become the one indicting. Let the soap opera continue!

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