Presidential Panel Recovers N3b From PEF Officials

Presidential Panel Recovers N3b From PEF Officials

The Special Presidential Investigation Panel on Recovery of Public Property (SPIP) has recovered over N3 billion from two senior officials by the Petroleum Equalization Fund (PEF).

This was disclosed in a press conference on Wednesday in Abuja by the chairman of the panel, Okio Obono-Obla.

The panel named the officials as Goody Nnadi, who is the General Manager, Corporate Services at the Fund, and Aisha Usman, the General Manager, Operations.

Obono-Obla said the agency received a petition that Nnadi operated a corporate account with a hotel named Galbani and Greatwood in Owerri, Imo State.

He said the amount that went into the accounts of Nnadi from 2011 to 2019 “totals N2.2billion, $302,964, €11,000 Euro and £2,000 pounds sterling.”

Obono-Obla disclosed that “two documents of landed property, $1,000 and €200 Euros were recovered” from the civil servant.

He noted that Nnadi was questioned but has been released on bail.

“He is presently undergoing Senior Executive Course (SEC 41, 2019) at the National Institute for Policy and Strategic Studies, Kuru, Plateau State.

Speaking about Aisha Usman, the chairman said findings revealed that she operates nine accounts with one bank alone with a total inflow of N1.4billion.

Obono-Obla said it was discovered that some corporate organisations paid the money into her account.

He noted that the panel has extended invitations to other management staff of PEF as the two await charges against them.

Obono-Obla noted that the suspects admitted helping some of the oil companies to get an allocation from NNPC and paid money into their personal and corporate accounts alleged to be graft.


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Gabriel Alabi is a graduate of the prestigious Nigerian Institute of Journalism. He is a sport enthusiast who loves to read and write. He is also witty and very intelligent.


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