EFCC to probe IPMAN over N10.9b subsidy fraud

The Economic and Financial Crimes Commission (EFCC) will begin investigation into the alleged N10.9billion oil subsidy scandal rocking the Independent Petroleum Marketers Association of Nigeria (IPMAN), Nationreports.


The Presidency, it was gathered, directed the anti-graft agency to wade into the matter and make those found guilty to refund the money they have misappropriated during the fuel subsidy era.

Industry sources said the decision of the government, was borne out of the need to extend investigation into the oil and gas sector, and further rid it of corrupt practices.

The sources further said the IPMAN probe is in line with the anti-corruption crusade of President Muhammadu Buhari-led government.

Its National President, Chinedu Okoronkwo, said EFCC has invited the leadership of IPMAN to come and testify on the issue early this week.

He said  the group anxious to see the beginning of investigation into the issue, adding that the N10.9billion fraud, allegedly perpetrated by some top- management of IPMAN has given the association a bad name.