Buhari: I’ve documents to prosecute ex-ministers

President Muhammadu Buhari said  he has started receiving documents on how former ministers and government officials looted oil funds. He said about 250,000 barrels per day of Nigerian crude are being stolen and people sell and put the money into individual accounts.He added that in other instances some former ministers were selling about one million […]

President Muhammadu Buhari said  he has started receiving documents on how former ministers and government officials looted oil funds.

He said about 250,000 barrels per day of Nigerian crude are being stolen and people sell and put the money into individual accounts.
He added that in other instances some former ministers were selling about one million barrels per day.
Buhari said this at the Nigerian Embassy in Washington DC Tuesday evening during an interactive session with Nigerians in Diaspora.
He said evidence of massive looting and stealing of Nigerian crude oil by some government officials, including some former ministers, was being compiled by relevant agencies to aid the prosecution of those involved in the scams.
He added that the government would then head to court to prosecute the culprits and recover the loots.
Leaders of developed countries where these finds were kept had been contacted to assist Nigeria to freeze such accounts, he said.
“We are now looking for evidences of shipping some of our crude, their destinations and where and which accounts they were paid into and in which country.
“When we get as much as we can get, as soon as possible, we will approach those countries to freeze those accounts and go to court, prosecute those people and let the accounts be taken to Nigeria.
“The United States and other developed countries are helping us to trace such accounts now. We will ask that such accounts be frozen and to 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.
“I assure you that whichever documents we are able to get and subsequently trace the sale of the crude or transfer of money from Ministries, Departments, Central Bank, we will ask the cooperation of those countries to return those monies to federation accounts.
‘And we will use those documents to arrest those people and prosecute them. This, I promise Nigerians”, the president said.
He vowed to check the excesses of the management of the Nigeria National Petroleum Corporation (NNPC).
He said unlike what obtained when he was Federal Commissioner for Petroleum under the military regime when the NNPC had only two traceable accounts before paying oil proceeds into the Central Bank of Nigeria (CBN), “now, everybody is doing anyhow.”

The cost of removing subsidy
On fuel subsidy, President Buhari said it was doubtful whether the subsidy exists at the moment.
He said while he was carefully studying the issue, he would not take a decision that would further impoverish Nigerians in the name of removing oil subsidy.
“Who is subsidizing who? But, people are gleefully talking: ‘remove subsidy.’ They want petrol to cost N500 per litre. If you are working and subsidy is removed, you can’t control transport, you can’t control market women, the cost of food, and the cost of transport.
“If there is need for removing subsidy, I will study it. With my experience, I will see what I can do. But, I’m thinking more than half of Nigerians, virtually, they cannot afford to live.
“Where will they get the money to go to work, how can they feed their families, how can they pay rent. If Nigeria was not an oil producing country – all well and good; our refineries are not working. We have a lot of work to do”, he said.
Buhari again denied his pace was slow. “Within the past two weeks, I’m being asked when I’m going to form my cabinet. And in some quarters, they are now calling me `Baba Go Slow’. I’m going to go slow and steady,” he said.

It will take 18 months to fix economy
Buhari advised Nigerians in Diaspora seeking government jobs back home to suspend their ambition as the nation economy was in a bad shape.
The president said it would take his government about 18 months or more to resuscitate the economy.
He, however, said his government would engage some of them as consultants to enable them contribute their quota to national development.
The president promised to study the Diaspora Bill in order to assent to it as being demanded by the Nigerians in Diaspora.
Nigerians, who spoke at the interactive session earlier, had pledged their support to Buhari’s government to enable it to achieve its campaign promises.