Former EFCC Chair Bawa Reveals Massive Fuel Subsidy Fraud in New Book
Image Credit: ariseFormer EFCC Chairman Abdulrasheed Bawa reveals in his new book, “The Shadow of Loot & Losses,” how corrupt officials and private importers orchestrated a multi-trillion-naira fuel subsidy fraud in Nigeria.
The fraud schemes included ghost importing, over-invoicing, manipulating shipping documents, double-claiming subsidies, and smuggling subsidized fuel to black markets.
These corrupt practices thrived due to forged documents, weak regulatory oversight, and collusion between government and private sectors.
The book serves as a call for transparency and reform in Nigeria’s public finance management, providing insider insight based on Bawa’s experience investigating the 2012 subsidy fraud while EFCC chairman from 2021 to 2023.
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