Victor EzejaExecutive Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has called on major oil producing companies in Nigeria to adopt measure to disincentivize stealing of Nigerian crude oil which has been largely responsible for decline in output.
Bawa urged them to consider the introduction of advance cargo declaration on crude export as a measure to discourage the theft of Nigerian Crude oil.
Join our WhatsApp ChannelThe EFCC boss made the call on Friday, 31st March, while members of the Oil Producers Trade Section of the Lagos Chamber of Commerce and Industry (LCCI), who were on a courtesy visit to the Commission.
Bawa expressed optimism that introducing advance cargo declaration of crude export with unique tracking will not only deter the theft of Nigerian crude at the export terminals but also discourage off takers who would be unwilling to accept such cargoes.
“We need to have an advance Cargo declaration on our crude oil export, because we found out that there is theft even at the terminals, unfortunately, IOCs like yours insisted that there is nothing like that, but it is impossible to happen I believe.
“We have conducted a case here at the EFCC where we were able to establish that crude that was taken is different from the one that was discharged and we keep on wondering, what is happening? So, that means there is a problem.
“And I believe you know what advance cargo declaration means, you have to declare in advance what your cargo is carrying and then you will be given the unique cargo tracking note on all the exports that you are making,” Bawa stated.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
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