EFCC Recovers 2.3m Litres of Diesel Worth ₦4.5bn in Lagos Alleged Diversion Case

The Economic and Financial Crimes Commission says it has recovered 2.3 million litres of diesel valued at about ₦4.485 billion, allegedly diverted from Prudent Energy and Services Limited in Lagos. The company reportedly entrusted its diesel to Ibafon Oil and Gas for storage. It later alleged a major shortfall after reconciliation showed that only 206,761 litres remained from an expected balance of 2,574,031 litres. The EFCC said its investigation found a deficit of 2,367,270 litres. It alleged that the depot owner trucked out products beyond the company’s own stock, thereby converting diesel belonging to its customer. Following the commission’s intervention, the recovered products were handed back to Prudent Energy and Services Limited.

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