Subsidy: EFCC witness says he can’t confirm payment to oil firms

By Abdulwahab Abdulah &  Onozure Dania

Trial of two out of those accused to have swindled the Federal Government over the petrol subsidy fund commenced yesterday with the first  Economic and Financial Crimes Commission witness, Mr  Wale Adamolekun telling the court that he could not confirm whether the companies were paid subsidy fund or not.

Led in evidence by the EFCC counsel, Mr. Rotimi Jacobs, SAN, Mr. Adamolekun, the General Manager, Operations of the Petroleum Products Pricing and Regulatory Agency (PPPRA), told the court presided over by Justice Adeniyi Onigbanjo that his agency was set up by the government to ensure that the nation could have a stable price regime for petroleum products.

He told the court that all claims tendered by the oil marketers were subjected to thorough verification processes by the PPPRA and other agencies before payments were made by the Central Bank of Nigeria (CBN).

Two oil marke-ters,Oluwaseun Ogunbambo and Habila Theck, who are directors in Fargo Petroleum and Gas Limited, are before the court to answer charges bordering on N976.6 million allegedly fraudulently received from the Petroleum Support Fund (PSF) payment by the Federal Government.

The witness said Fargo was one of the companies given permission to participate in the scheme but said he was not aware if  the company had received the N976.7 million subsidy payment

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Subsidy: EFCC witness says he can’t confirm payment to oil firms