Ex-ministers Put Stolen Oil Money in Personal Accounts - President Buhari

Posted by Nicholas on Thu 23rd Jul, 2015 - tori.ng

President Buhari revealed that a couple of former ministers have been selling about one million barrels of the country's crude oil per day and stashing the money in personal accounts.

President Buhari has revealed how former ministers under Goodluck Jonathan mismanaged Nigeria’s oil funds.

The President stated that some former ministers were selling about one million barrels of the country’s crude oil per day and stashing the money in personal accounts.

He also said, on Tuesday, July 21, 2015, that his administration would trace the accounts of individuals who stashed away ill-gotten oil money, freeze and recover the loot and prosecute the culprits.

President Buhari made the comments during a meeting with members of Nigerians in Diaspora Organization (NIDO) in the United States and Canada at the Nigerian Embassy in Washington DC.

According to a statement released by Buhari’s media aide, Garba Shehu, the president said:

“250,000 barrels per day of Nigerian crude are being stolen and people sell and put the money into individual accounts.”

“We will ask that such accounts be frozen and prosecute the persons. The amount involved is mind-boggling. Some former ministers were selling about one million barrels per day.”

“I assure you that we will trace and repatriate such money and use the documents to prosecute them. A lot of damage has been done to the integrity of Nigeria with individuals and institutions already compromised.”

Buhari also explained that removing the subsidy on fuel in the country would cause hardship to the average citizen.