Economic and Financial Crimes Commission (EFCC) former Chairman, Abdulrasheed Bawa has uncovered multi-trillion-naira fuel subsidy fraud in Nigeria.

Bawa made the revelation in his book, titled ‘The Shadow of Loot & Losses: Uncovering Nigeria’s Petroleum Subsidy Fraud’.

Bawa said: “Single shipments were often used to obtain multiple subsidy payments. Subsidised fuel was frequently diverted to black markets or smuggled out of Nigeria for profit.”

“The Shadow of Loot And Losses is not just a chronicle of fraud; it is a call to action – a demand for transparency, accountability, and reform in Nigeria’s public finance management, especially in the oil sector.”