NEWS

Diezani Madueke’s N800billion Subsidy Fraud Exposed

The last of the oil subsidy saga may have not been heard. This is according to firsthand information recently made available to 247ureports.com through sources within the presidency indicating the secret doors within the presidency may have been cracked open due to internal wrangling between factions – who have begun revealing dirty and secrets financial deal of persons within the presidency.

Among the first revelations on the chopping block were the financial activities of the Petroleum Resources Minister, Diezani Allison Madueke in tandem with the Chief of Staff to the President. According to the information received, the Economic and Financial Crimes Commission [EFCC] had performed a preliminary background checks on the financial activities of federal ministers and aides attached to the presidency. The preliminary investigation was conducted during the height of the protests associated with the said removal of oil subsidy on petrol. The presidential source indicated that the EFCC had reacted under pressure exerted by the heated polity in the various regions of the country.

The findings of the EFCC, according to the source, were presented to President Goodluck Ebelemi Jonathan, upon his request. And upon inspection of the file contents, the President wept openly. “He became weak” said the source who went on to explain that the content of the file indicted the Federal Minister of Petroleum and the Chief of Staff to the President – as having siphoned monies through fictitious oil companies that were given fraudulent subsidies worth in excess of N800billion. Both Presidential aides were found to have enriched themselves through the fake oil companies which were awarded huge sums of subsidy for the importation of non-existent petroleum products. Information available to 247ureports.com did not disclose the identities of the oil companies.

In particular, the President was said to have reacted in a manner that surprised the investigators. It was gathered that Mr. President was unhappy with the findings largely because of the personalities involved. The President was reported to have hesitated towards acting on the findings. “It will tire the nucleus of his administration – and result to an unpleasant and embarrassing outcome for the entire presidency”.

In an attempt at damage control, the Presidency requested for the entire records on the investigation. He proceeded to place a gag order on the EFCC file. It remains unsure to 247ureports.com the location of the EFCC file but it is certain the presidency had requested for the entire materials associated with the investigation.

247ureports


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