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Subsidy Scam: EFCC To Investigate IPMAN Over N10.9b Fraud

The Economic and Financial Crimes Commission (EFCC) will this week begin investigation into the alleged N10.9billion oil subsidy scandal rocking the top- hierarchy of Independent Petroleum Marketers Association of Nigeria (IPMAN), The Nation has learnt.


This, according to The Nation, was in line with directive from the Presidency ordering the anti-graft agency to wade into the matter and make those found guilty to refund the money they have misappropriated during the fuel subsidy era.
Industry sources said the decision of the government, was borne out of the need to extend investigation into the oil and gas sector, and further rid it of corrupt practices.
The sources further said the IPMAN probe is in line with the anti-corruption crusade of President Muhammadu Buhari-led government.
Its National President, Mr Chinedu Okoronkwo, said EFFC has invited the leadership of IPMAN to come and testify on the issue early this week.
He said the group anxious to see the beginning of investigation into the issue, adding that the N10.9billion fraud, allegedly perpetrated by some top- management of IPMAN has given the association a bad name.
He said: ‘’EFFC’s decision to investigate the activities of IPMAN, in relation to the alleged N10.9billion is welcomed. In fact, the management of IPMAN would be happy to see the image of the marketers restored through the probe. We would be happy to see the people who actually committed the offence, as well as see them punished in line with the constitution. The government is ready to rid the country of corruption. ‘’

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