The book details “how entrenched corruption and weak oversight enabled fraudsters to exploit the subsidy system for years.”
LAGOS – Former EFCC Chairman, Abdulrasheed Bawa, has exposed extensive corruption in Nigeria’s fuel subsidy regime in his new book, “The Shadow of Loot & Losses: Uncovering Nigeria’s Petroleum Subsidy Fraud.”
Published by CableBooks, the book offers a detailed insider account of the multi-trillion-naira fraud, revealing how top officials and importers colluded to siphon public funds through ghost imports, forged documents, inflated invoices, and smuggling.
Drawing from his experience as a lead EFCC investigator in the 2012 subsidy probe, Bawa writes: “This is not just a chronicle of fraud, but a call to action—for transparency, accountability, and reform.”
According to publisher Vic Akinrogunde, the book details “how entrenched corruption and weak oversight enabled fraudsters to exploit the subsidy system for years.”
Bawa, who led the EFCC from 2021 to 2023, recounts how billions were recovered and some perpetrators brought to justice.
The exposé arrives two years after fuel subsidies officially ended under President Tinubu’s administration.