Scared Of Buhari? Oil Looters Have Agreed To Return Funds

Following the shortage of cash in the current administration, President Muhammadu Buhari has devised strategies to recover some stolen loots in the Nigerian oil industry which occurred during the administration of President Goodluck Jonathan.

According to report, the Buhari-led government have allegedly stumbled on some shady deals that were carried out by former Petroleum Minister, Diezani Alison-Madueke and some Nigerian oil companies and oil marketers.

Mrs. Madueke has been deeply involved in complex oil wells transfer from multinational oil companies to some Nigerian operators she is close to.

A close source to the Presidency revealed that one of the Nigerian operators had volunteered to return $500 million to the Federal Government account. Although, the source, who pleaded anonymity, said the marketer is in possession of $4.5 billion.

According to the source, the government’s strategy is to target oil marketers and companies“caught red-handed in stealing huge sums of oil subsidies and oil revenues,” Pressure has been mounted on some to repay the stolen monies traced to them.

Another source maintained that; “A number of them have agreed to import massive levels of fuel in lieu of the funds they received in shady transactions during the Jonathan administration.”

The government is also said to be piling pressure on erstwhile Petroleum Minister, Alison-Madueke, but she denied any unlawful activities, instead she implicated some officials in the NNPC, accusing them of fraud.

“The [Buhari] government got her to write a formal account of her allegations against some NNPC officials and oil companies. What she put down gave a picture of how some of the funds went missing. The document was then forwarded to the Economic and Financial Crimes Commission (EFCC) in the form of a petition,” the source said.

Those implicated in the NNPC include the current General Managing Director (GMD), Haruna Momoh, a former GMD, Austen Oniwon, Reginald Stanley and Sam Okeke, a former Group General Manager, New Business Division of the NNPC.