Nigeria lost $450m to petrol subsidy fraud in six years- former EFCC Chair, Bawa
[NigerianEye - Nigeria] - 7/06/2025
Abdulrasheed Bawa, the former chairman of the Economic and Financial Crimes Commission (EFCC), says Nigeria lost $450 million to subsidy fraud under the Petroleum Support Fund (PSF) scheme between 2006 and 2012. In his new book, ‘The Shadow of Loot & Losses: Uncovering Nigeria’s Petroleum Subsidy Fraud’, Bawa documents the massive fraud that marred the scheme. Bawa served as the chairman of the anti-graft agency from February 2021 to June 2023. He was a key investigator on the EFCC’s special team that probed the subsidy fraud. In the book, the former EFCC boss said some of the indicted (…)
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