The Economic and Financial Crime Commission (EFCC) has announced that it has in its custody, a suspect caught with illegally refined petroleum products in Uyo.

In a statement by the commission spokesperson, Wilson Uwujaren, the suspect was caught with the product concealed in reinforced plastic bags tucked in many sack bags.

According to EFCC,  the suspect was caught by the 2 Brigade, Nigerian Army, in Uyo, Akwa Ibom State and was handed over to EFCC on Tuesday, April 5, 2022.

What the Commission is saying

Mr Uwujaren said the suspected dealer named Endurance Asuquo, was arrested on February 27 on Itu-Calabar Road in Uyo.

He said EFCC has begun an investigation into suspected illegal petroleum products dealers in Uyo.

Mr Uwujaren said the suspect was arrested in a truck with Registration Number DRK 700 XA, loaded with about 5,000 litres of illegally refined diesel and kerosene.

He noted that the suspect would be arraigned before the court after investigations have been concluded.

Back story

Chairman of UBA Banking Group and Heirs Holdings Tony Elumelu recently raised an alarm that the reason Nigeria cannot meet its crude oil production quota and benefit from high oil prices is due to theft, as Nigeria is losing up to 95% of oil production to thieves.

Austin Avuru, founding MD/CEO of Seplat Energy and Executive Chairman AA Holdings also warned that Nigeria’s oil production has reached an emergency critical status, as some oil production wells don’t get to see 80% of production making it to the terminals due to oil theft.

These calls forced the Federal Government’s renewed moves to stop the huge cases of oil theft in its oil industry which is plaguing production, stating that it has identified a 3 element solution to put an end to the issue of oil theft.

Recently, Nairametrics reported that the Nigerian police in its efforts to fight illegal bunkering and pipeline vandalism had impounded 41 trucks, and arrested 42 suspects of which 21 have been charged to court so far with 17 still under investigation, and secured 4 convictions.

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