The former Chairman of the Economic and Financial Crimes Commission, Malam Nuhu Ribadu, on Tuesday said that if given the task by the Federal Government, he will fish out the petroleum subsidy thieves within one week.
He blamed all the atrocities perpetrated in the management of the fund on the regulatory agency, the Petroleum Products Pricing Regulatory Agency, PPRA, that released the fund and could not account for it.
Ribadu said these at the Nigeria Electricity Regulatory Commission, NERC, in Abuja.
According to him, “Look at the energy sector and see what we are talking about. Most of the problems we are talking about today are failure of regulation or regulators including the subsidy. If PPPRA had lived up to expectations we would not be having these problems. Nobody will take one penny from government if those agencies did not allow them.
“If I was to handle this subsidy I will just catch PPPRA. I will bring out each one of them and in one week I will get the people responsible because the gate keeper is the one in charge.
“I will just get them because nobody will make one penny from the subsidy unless PPPRA allows it. For every single person that benefited from subsidy I can assure you public officers gained three times,” Ribadu stated.
He added that in order to succeed, the NERC chairman, Dr. Sam Amadi “ needs courage to carry out the reform” in the power sector. He however warned Amadi that for him to be a successful regulator, he must not hold interest or stake in the power sector directly or by proxy.
Ribadu condemned the primitive accumulation of wealth and its futility, adding that “in life, you don’t need to have everything because if you die and leave it for your kids, they will misuse it.” He urged Amadi to embark on the power reform with integrity because a foul play could backfire.
Speaking further on NERC, he said: “even the work I am doing at the task force, I have seen their hands. That was what they did in this place (power sector) too.”
He revealed that the Taskforce on Petroleum Revenue which he chairs would soon present its report to the Ministry of Petroleum Resources.
While commenting on his presidential ambition, the former EFCC chair admitted that he is now into politics, stressing that he remains in the Action Congress of Nigeria because he wants to be in the opposition.
He noted that if he is availed the same opportunity, he would not hesitate to embark on the presidential race, although he is not desperate.
“If I am given the chance I will do that again. If the opportunity comes as far as I am alive I will make myself available for that. For now I am in politics. For now I am a member of the Action Congress of Nigeria. I am in the opposition,” said Ribadu.