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(REUTERS) Nigeria president sends oil probe to anti-graft body

Nigeria president sends oil probe to anti-graft body
Tue May 22, 2012 2:06pm GMT

ABUJA (Reuters) - Nigerian President Goodluck Jonathan has submitted a report on a $6.8 billion fuel subsidy fraud to the financial crimes agency, raising hopes unprecedented action may be taken against top government and oil company officials behind endemic corruption.

Last month, parliament produced a report detailing massive corruption in a state subsidised petrol import scheme, prompting civil society groups to call for sackings of the oil minister, Diezani Alison-Madueke, and the heads of the state-oil firm. Some threatened mass protests if no action was taken.

The Economics and Financial Crimes Commission (EFCC) is conducting its own probe into the subsidy, overseen by Alison-Madueke. Diplomats and oil analysts have said it is a conflict of interest for the minister to monitor an investigation into her ministry and a state-oil company of which she is a director.

"Mr president has just handed over a copy of the House of Representative's probe panel report on oil subsidy to me now with instruction that I should hand it over to the EFCC for a thorough job immediately," Minister of Justice and Attorney General, Muhammed Bello Adoke, said.

"Mr president instructed me to tell the EFCC that there must be no sacred cow and that they must do their job on the report thoroughly without sparing anybody indicted."

Parliament's probe found that mismanagement and theft by fuel marketers and government officials cost $6.8 billion over three years , about a quarter of Nigeria's annual budget.

It recommended the restructuring of the state-oil firm, NNPC, and the energy ministry and the prosecution of those involved. The NNPC has dismissed many of the findings in the report.

In January, thousands brought the nation to a standstill in protests against an attempted removal of the fuel subsidy.

Labels: CORRUPTION, NIGERIA, OIL

posted by MrK @ 4:35 PM