The Economic and Financial Crimes Commission (EFCC) says it recovers approximately 2.3 million litres of Automotive Gas Oil (AGO) worth about N4.4 billion, allegedly converted after being diverted by an oil-related firm in Lagos.
EFCC reports that the diesel was linked to Prudent Energy and Services Limited and that the investigation follows a growing mismatch between recorded stock and products that were reportedly withdrawn. According to EFCC, the alleged diversion comes through withdrawals that were said to be periodic, leading to a shortfall in its reserves. The EFCC then traces the products and recovers the amount described by both outlets.
Across the two reports, the core details are consistent: the EFCC recovery involves AGO/diesel in the same scale of litres and a similar value in naira, tied to Prudent Energy’s stock shortfall, and conducted as part of an EFCC-initiated investigation. The outlets differ mainly in the exact value stated (roughly N4.48 billion versus N4.4 billion) and in naming a specific individual in connection with an Ibafon Oil and Gas entity, as reported by Daily Post Nigeria.
