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NIGERIA Fuel importers in fraud probe

August 20 2012 at 06:44am
By Reuters

Nigeria’s finance ministry would not pay subsidies to fuel importers it was investigating for fraud, listing 21 local firms and pledging not to back down despite union strike threats, it said on Friday. A presidential committee was verifying all fuel marketers’ claims before the finance ministry paid them any subsidy, it said. A parliamentary probe in April uncovered a $6.8 billion (R57bn) scam in the fuel subsidy administration. It found that marketers were claiming subsidies for fuel they never delivered or that they sold to neighbouring states. Unions, which are largely controlled by the companies, threatened to strike unless payments were released. – Reuters


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