Oil theft has become a franchise in Nigeria. A former DSS Director, Mike Ejiofor said this during an interview on TV. He recalled that when he was in active service of the state, after investigations were made into oil theft and bunkering, reports were then sent to the necessary authorities to treat the matter, but it amounts to nothing as the same people who should take necessary punitive actions are themselves involved in the oil theft.
Buttressing his point, Hon. E.J Agbonayinma, former house of reps member, noted that he had painstakingly generated a report that looked into the global oil sales of Nigeria. The said report covered the year 2011 to 2014 with shocking revelations. One major thing discovered through the report was that Nigeria had a shortfall of over $81 billion in unremitted oil money to the CBN by the NNPC.
Till date the missing money is unaccounted for and further investigations have not been carried out from the year 2015 to present.
