The Ministry of Finance has declared that it had not received any correspondence from the Economic and Financial Crimes Commission (EFFC) that the anti-graft agency was investigating any company over subsidy payments to oil marketers.
The ministry made this known in a statement issued, Friday, by Mr. Paul Nwabuikwu—Special Adviser to the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, following a foreign news agency report that some companies are under investigation for various breaches in the subsidy scheme.
The ministry said it had, along with other agencies of government achieved measurable success in cleaning up the fraud hitherto associated with the subsidy scheme.
“It will be recalled that the Aig-Imoukhuede Presidential Task Force which investigated subsidy payments had referred firms named for various breaches in its report to the Special Fraud Office for further investigation.
“Some of these firms had contested their indictment and produced additional evidence to clear themselves,” the statement said.
The minister had therefore directed that firms which were cleared by the Special Fraud Unit (SFU) go through a second stage of investigation and this was done, the statement added.
