The Centre for Anti-Corruption and Open Leadership (CACOL) has petitioned the Chairman of Economic and Financial Crimes Commission (EFCC), Abuja to urgently bring to book all those allegedly involved in the upfront sale of Nigeria’s crude oil.
CACOL in a petition signed by its Chairman Comrade Debo Adeniran dated Saturday August 17,2024, tasked EFCC on the need to investigate and prosecute those recently fingered by the Minister of Finance and Coordinating Minister for the Economy, Olawale Edun to have fleeced the country’s patrimony through upfront sale of the crude oil for two years.
The group frowned at the needless sufferings encountered by hapless Nigerians due to the greedy moves by previous administration, which is now taking its toll on the entire nation.
“Recently, a cross section of the media reported a statement credited to the Minister of Finance, Olawale Edun that former President Muhammadu Buhari sold the nation’s crude oil upfront for two years, collected the proceeds, prompting the current administration to sell crude without collecting its value for money.
“The implications of this unholy act is evident now as it can be felt in different dimensions.
“Firstly, it has made some people especially those from whose region the oil is being extracted to become restive and threatening to disrupt the fragile peace being enjoyed in their region.
“Secondly, the upfront sale of crude oil is a major cause of the current administration’s problem as it had made the revenue hitherto generated from crude oil to dwindle.
“Hence, there is apparent shortfall in the available resources that could have been used to carry out developmental projects across the country.”
CACOL however, cites the link with the hardship currently being witnessed in Nigeria to be directly tied to the economic missteps of the past administration led by President Muhammadu Buhari, adding that many more hidden information may likely surface if the most desired EFCC probe on the matter is done.
“Moreover, most people are not attributing the current hardship being faced by the populace to the mismanagement and gross abuse of the trust and mandate given to the immediate past administration.
“But rather they felt it is as a result of the current administration’s incompetence and mediocrity that is causing the current economic and monetary impasse without looking at the root cause of the problem.
“We also want to believe that the upfront sale of crude oil might just be a tip of the iceberg of what the Minister of Finance could reveal given political expediency.
“There may be more than meets the eye even in other sectors apart from the oil and gas sector.
“To this end, we hereby call for urgent investigation of this claim by the Minister of Finance and the coordinating minister for the Economy so as to unravel those behind the sale and inform Nigerians what the money was used for.”
CACOL stated that its motivation to petition EFCC is due to the agency’s statutory powers to investigate and prosecute this kind of cases.
“We have no doubt that you will do due diligence in carrying out this assignment for public good.
“We are encouraged to submit this petition to you based on our resolve to always expose any corrupt act(s) being perpetrated by anyone either in public or private sphere.”