Femi Falana petitions EFCC over CBN's illegal withdrawal of N2.05trillion for Fuel Subsidy payment

A human rights activist, Mr. Femi Falana, has petitioned the Economic and Financial Crimes Commission (EFCC) over what he called illegal withdrawal of N2.05triilion for the payment of petrol subsidy, without appropriation by the National Assembly.

In the petition, Falana said the payment was a contravention of the Appropriation Act 2011 which had provided N245 billion for fuel subsidy in 2011.

He commended the EFCC for ensuring that the first set of suspects involved in the fuel subsidy scam were charged to court last week.

“However, we wish to draw your attention to the fact that the sum of N2.055 trillion was illegally withdrawn from the Federation Account by the Central Bank of Nigeria and paid to the Nigerian National Petroleum Corporation and other marketers in 2011 on the illegal recommendation of the Federal Ministries of Finance and Petroleum Resources. The said payment is a contravention of the Appropriation Act 2011 which had provided N245 billion for fuel subsidy in 2011,” he said.

Falana said since N245 billion was appropriated for fuel subsidy in 2011, the payment of the additional sum of N2.055 trillion cannot be justified in law. He requested the EFCC to investigate and prosecute all the officials, who authorised the withdrawal of over N2 trillion from the Federation Account without appropriation by the National Assembly.