A former chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has revealed large-scale corruption linked to Nigeria’s fuel subsidy payments. In a new book, titled ‘The Shadow of Loot and Losses’, Bawa outlines how billions of naira were embezzled through false claims and manipulation of shipping documents.
The book highlights practices such as ghost importing, over-invoicing, and double claims that plagued the subsidy regime. Bawa, who served as EFCC chairman from 2021 to 2023, says systemic collusion between officials and private actors enabled the fraud.
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He argues that the fuel subsidy scandal represents one of Nigeria’s most pervasive financial crimes, demanding urgent reforms in public finance management. The publication draws on Bawa’s experience as a key investigator during the 2012 probe into subsidy fraud.
President Bola Tinubu removed the fuel subsidy in May 2023, stating it was to protect the future of Nigerian youths. His administration maintains that the decision clears the path for sustainable development.
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