SPIP Uncovers Over N3 Billion Fraud in PEF

By Michael Peters, The Sight News

Abuja: Special Presidential Investigation Panel for recovery of public property(SPIP) has disclosed that it uncovered over N3 billion fraud allegedly perpetrated by top officials of Petroleum Equalization Fund, (PEF).

Those alleged to be involved in the fraud include the General Manager, Corporate Service in the Agency, Mr Goody Nnadi and the General Manager, Operations, Aisha Usman.

Addressing newsmen in Abuja on Tuesday the Chairman of the Panel, Barr. Okoi Obono-Obla said the amount was deposited into their various accounts by individuals and oil companies in exchange for favours.

Obla disclosed that from the year 2011 till date, Mr. Nnadi allegedly received a total inflow of 2.2 billion naira, $302,964.00 US Dollars, €11,100 Euros, and £2000 pounds in his 18 Bank accounts.

According to him, Mrs Aisha Usman was discovered to have received into her account a total inflow of N1.4Billion Naira.

He noted also that Nnadi admitted to have helped some of the oil companies to get allocations from Nigerian National Petroleum Corporation, NNPC resulting to the payment of the said sum into his account.

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