EFCC Recovers N4.48bn Diesel Allegedly Converted by Oil Firm in Lagos
EFCC said the recovery followed a petition after a physical check found a 2.37 million-litre shortfall in stored diesel.
- The Economic and Financial Crimes Commission Lagos Zonal Directorate recovered 2.3 million litres of Automotive Gas Oil worth N4.485 billion allegedly stolen by Mamemo Ibru of Ibafon Oil and Gas from Prudent Energy and Services Limited in Lagos.
- Following a petition by Prudent Energy and Services Limited, the EFCC launched an investigation after the company alleged that petroleum products entrusted to Ibafon Oil for storage were being withdrawn periodically without authorization.
- According to the EFCC, physical reconciliation revealed a shortfall of 2,367,270 litres; only 206,761 litres remained in storage tanks against an outstanding balance of 2,574,031 litres.
- EFCC spokesperson Dele Oyewale stated that following the commission's intervention, Ibru surrendered the recovered products to Prudent Energy, which the agency alleged were converted for personal use.
- This recovery is part of the EFCC's broader efforts to investigate alleged economic crimes and recover diverted assets, though the commission did not disclose whether legal charges have been filed against Ibru.
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Daily Post Nigeria
empressivenaija.comEFCC recovers N4.48bn diesel allegedly converted by oil firm in Lagos
The Economic and Financial Crimes Commission, EFCC, has recovered 2.3 million litres of Automotive Gas Oil, AGO, commonly known as diesel, valued at approximately N4.485 billion, allegedly diverted from Prudent Energy and Services Limited by Mamemo Ibru of Ibafon Oil and Gas in Lagos. The recovery followed an investigation launched by the anti-graft agency after […] EFCC recovers N4.48bn diesel allegedly converted by oil firm in Lagos
EFCC recovers N4.4bn diesel allegedly converted by Lagos oil firm
According to the EFCC, Prudent Energy reported that the products were being withdrawn periodically, resulting in a growing shortfall in its stock. The post EFCC recovers N4.4bn diesel allegedly converted by Lagos oil firm appeared first on Premium Times Nigeria.
EFCC Recovers N4.5 billion Diesel from Lagos Depot over Alleged Theft
The Economic and Financial Crimes Commission (EFCC) has recovered 2.3 million litres of Automotive Gas Oil (AGO), commonly known as diesel, valued at N4.485 billion, from Ibafon Oil and Gas in Lagos over an alleged case of stealing and criminal conversion. The Economic and Financial Crimes Commission (EFCC) has recovered 2.3 million litres of Automotive Gas Oil (AGO), commonly known as diesel, valued at N4.485 billion, from Ibafon Oil and Gas in…
Alleged criminal conversion: EFCC recovers N4.4bn worth of AGO in Lagos
The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), on Monday, August 17, 2026 recovered 2.3 million litres of Automotive Gas Oil, AGO, valued at N4.485 billion from Mamemo Ibru of Ibafon Oil and Gas, during an investigation into an alleged case of stealing and criminal The post Alleged criminal conversion: EFCC recovers N4.4bn worth of AGO in Lagos appeared first on National Accord Newspaper.
EFCC recovers N4.4b worth of AGO in Lagos
WorldStage— The Lagos Zonal Directorate 1 of the Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC) on Monday, August 17, 2026 recovered 2.3 million litres of Automotive Gas Oil, AGO, valued at N4.485 billion from Mamemo Ibru of Ibafon Oil and Gas, during an investigation into an alleged case of stealing and criminal conversion. The recovery followed a petition submitted by Prudent Energy and Services Limited, …
EFCC Recovers Stolen Petroleum Products Worth N4.5 Billion
The Economic and Financial Crimes Commission (EFCC) has recovered 2.3 million litres of Automotive Gas Oil (AGO), valued at N4.485 billion, in an alleged theft and criminal conversion case involving Ibafon Oil and Gas. In a statement issued on Tuesday, EFCC’s Lagos Zonal Directorate 1 said it made the recovery on Monday, August 17, 2026, during an investigation involving the company’s owner, Mamemo Ibru. The investigation followed a petition by …
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