{"id":102329,"date":"2023-01-04T19:03:29","date_gmt":"2023-01-04T18:03:29","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=102329"},"modified":"2023-01-04T19:03:29","modified_gmt":"2023-01-04T18:03:29","slug":"efcc-recovers-n13bn-illegal-fuel-subsidy-payment","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/efcc-recovers-n13bn-illegal-fuel-subsidy-payment\/","title":{"rendered":"EFCC recovers N13bn illegal fuel subsidy payment"},"content":{"rendered":"<div dir=\"auto\">The Economic and Financial Crimes Commission, EFCC, recovered approximately N13bn as proceeds from illegal payments made under the subsidy regime between 2017 and 2021.<\/p>\n<p>This was contained in a document recently obtained from the Nigeria Financial Intelligence Unit, NFIU website on the National Inherent risk assessment of money laundering in the Nigerian extractive sector.<\/p>\n<p>\u201cThe Economic and Financial Crimes Commission, the agency responsible for the investigation and prosecution of corrupt subsidies in the oil and gas in Nigeria, recovered N12,998,963,178.29 as proceeds of illegal payment made within the subsidy regime between 2017 and 2021,\u201d the document stated.<\/p>\n<p>Fuel subsidy corruption has been an issue of concern in Nigeria. For instance, the World Bank said that increasing fuel subsidies put the Nigerian economy at a high risk as subsidy payments could significantly impact public finance and pose debt sustainability concerns.<\/p>\n<div class=\"yj6qo\"><\/div>\n<div class=\"adL\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Economic and Financial Crimes Commission, EFCC, recovered approximately N13bn as proceeds from illegal payments made under the subsidy regime between 2017 and 2021. This was contained in a document&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":82613,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-102329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EFCC recovers N13bn illegal fuel subsidy payment - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/efcc-recovers-n13bn-illegal-fuel-subsidy-payment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFCC recovers N13bn illegal fuel subsidy payment - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Economic and Financial Crimes Commission, EFCC, recovered approximately N13bn as proceeds from illegal payments made under the subsidy regime between 2017 and 2021. 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