$620,000 oil subsidy probe scam: An evolving regime of vicious circle of corruption
Monday, 05 November 2012 18:01
SUNDAY ODIBASHI
•Government officials are sacred cows of corruption– Fasehun
NEW questions are beginning to arise in the polity over the credibility of legislation by members of the National Assembly. This is not unconnected with the perceived inaction of government over the controversial $620,000 (about N96.1 million) monetary deal which exchanged hands between Farouk Lawan, former Chairman of the Ad Hoc Committee of the House of Representatives that investigated the oil subsidy fraud and Femi Otedola, Chairman of African Petroleum (AP) and Zenon Oil, in a $3 million (about N465 million) deal to doctor the House report and exonerate Otedola’s firms from indictment in the subsidy fraud investigation. Our investigation revealed that stakeholders in the Nigerian project have lost confidence in the Federal Government in the fight against corruption. They are of the consensus that state actors are more imbued with obsession for kleptomania than commitment to good governance that would promote socio-economic growth and development which would ameliorate the living standards of Nigerians. Several stakeholders have articulated that the Nigerian State has become an empire of corruption providing breeding ground for venal political actors. The Farouk/Otedola scandal was widely celebrated across the country and in the international community, giving currency to the rising profile of corruption in government. A deal of $3 million (about N465 million) was admitted by both parties to have been struck; Otedola made $500,000 part payment to Farouk Lawan, proceeded further to invite the Clerk of the Committee, Boniface Emenalor, whom he gave $100,000 to ensure he was not indicted in the investigation of about N2.7 trillion purported subsidy fraud looted from the national treasury. The balance was anticipated to be paid after the assignment had been performed. Jagaban Adams Jagaban, Chairman, House Committee on Drugs and Financial Crimes, at a point, was dragged into the scandal as the keeper of the $500,000 given to Farouk Lawan. There were manifestations that the deal was almost successful. The Report was formally presented to the House and Continue reading “Insecurity: Both FG, States have lost focus -Debo Adeniran”