How banks, oil importers defrauded government – Buhari explains

President Muhammadu Buhari has said that Nigerians’ understanding of his anti-corruption fight was why the removal of oil subsidy did not prompt public disturbance. Speaking for the first time since after the development five months ago, Buhari said his administration had been greatly encouraged by the uncommon support from Nigerians in the fight against corruption, as well as initiatives aimed at stimulating the economy.


The President, who spoke during an interactive session in Berlin with representatives of the Nigerian Community in Germany, promised that his administration would reciprocate the gesture by strengthening critical institutions needed for sustainable development and prosperity. “We are working hard to empower our institutions especially our educational institutions.

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“If you educate a person that is the best you can do for him but if not you make him susceptible to religious, ethnic, negative thinking and action. “Nigerians are virtually supporting us in our fight against corruption, security and the economy. “There are things that are happening, which if such had happened before there would have been major riot, like the removal of subsidy on fuel,” he said.

Referring to the “Rolls Royces,” recently discovered in the homes of certain government officials as a clear reference of the rot in society and the fact that the war against corruption in the country is working, President Buhari also told Nigerians in the Diaspora that it was regrettable that over the years oil marketers had colluded with banks to defraud Nigeria of much needed revenue from the commodity.

“One third of the activities of the oil marketers are fraudulent, you can see how some of us Nigerians are wicked. “They just take the money, stamp some papers without bringing the product and this fraudulent activity was between bankers and businessmen,” he said.



  1. My dear PMB, please revisit the Oil Subsidy Scam Probe. These Oil marketers and their collaborators : banks, DPR, and PPPRA officials have “finished” Nigeria!

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