Femi Otedola, a Nigerian billionaire has Implored President Bola Ahmed Tinubu to release the full Aigboje Aig-Imoukhuede report on Nigeria’s multi-trillion-naira fuel subsidy fraud.
The report, produced by a panel led by Aig-Imoukhuede during the Goodluck Jonathan administration, examined the controversial fuel subsidy regime.
Otedola insisted that Nigerians deserve to know the truth and that the real thieves must be unmasked.
Femi Otedola made this appeal in a post on his X (formerly Twitter) account on Monday, where he accused past administrations of suppressing the explosive findings.
“I implore President Bola Ahmed Tinubu to release the full Aigboje Aig-Imoukhuede report on subsidy fraud as Nigerians deserve to know the truth.
It is on record that the Presidency at the time called on the late EFCC Chairman, Ibrahim Lamorde, to halt the investigation.
Let the report be made public so the real subsidy thieves can be unmasked, Otedola wrote.
The panel was established under then-President Jonathan to audit the controversial Petroleum Subsidy Fund (PSF) following revelations of massive fraud in the scheme.
They reportedly uncovered extensive racketeering, fictitious claims, and payments running into billions of dollars.
However, Otedola alleged that the presidency at the time frustrated the investigation and ordered the Economic and Financial Crimes Commission (EFCC), under its then-chairman, Ibrahim Lamorde, to halt any further probe.
“I implore President Bola Ahmed Tinubu to release the full Aigboje Aig-Imoukhuede report on subsidy fraud as Nigerians deserve to know the truth,” he said.
Otedola also revealed that he was the whistleblower who exposed the monumental fraud that shook the country during Jonathan’s administration.
He clarified that his company, Zenon Petroleum and Gas Limited, never participated in the subsidy scheme.“
Zenon Petroleum was wholly an importer and trader of diesel, which was already deregulated.
We never traded in Premium Motor Spirit (PMS), the only product eligible under the subsidy regime.
So how can anyone accuse Zenon of subsidy fraud? he asked.
I Alerted Then-President Jonathan To Fuel Subsidy Fraud, Petroleum Minister Diezani Denied It.
He accused Umar Sani, a former Special Adviser to ex–Vice President Namadi Sambo, of either ignorance or deliberate mischief, saying,
It is shocking that someone who once held public office would display such ignorance of basic industry facts just to mislead the public.
Umar had accused him of complicity in Nigeria’s fuel subsidy fraud.
Recounting how the subsidy scandal broke, Otedola said he was a member of Jonathan’s Economic Team when he discovered widespread fraud in the Petroleum Subsidy Fund (PSF).
I am the one who first alerted President Jonathan to the monumental fraud.
When he confronted the then Minister of Petroleum, she denied it.
Determined to stop the bleeding, I reached out to Senator Bukola Saraki and reported the fraud to him.
He took it to the floor of the Senate, and from there the House of Representatives began its investigation, Otedola revealed.
