An investigation into embezzlement at the national oil company in Chad has led to the arrest of a group of senior officials from Chad’s oil and banking sectors.
According to the government, the arrest has been on over the past 10 days.
The Minister of Communication and government spokesman, Abderaman Koulamallah on Sunday said the embezzlement of 13 billion CFA francs (nearly 20 million euros) within the Chadian oil company (SHT) and the National Security Agency (ANS), the internal and external intelligence services, is conducting the investigation.
Among those arrested is the former private secretary of General Mahamat Déby, Idriss Youssouf Boy. Michel Boayam and Tahir Issa Ali Souleymane were also questioned in the framework of the investigation.
“Many people have been arrested and some have been released as part of the investigation into financial misappropriations of 13 billion CFA francs at the SHT.
“The case is currently being handled by the judiciary” and some of the defendants will eventually be presented to a judge at the end of the preliminary investigation, the spokesman added, without giving any details of the charges.” Koulamallah told journalists.
Chad is a modest oil producer, with 47 million barrels in 2021, The central African country joined the circle of African oil producing and exporting countries in the early 2000s and its economy is now very dependent on it.
It is not uncommon to identify corrupt trend in oil sector in Africa. Report says the 2005–2014 oil boom raised incentives for corruption across the oil industry’s value chain. A highly diverse set of private sector actors engaged in corrupt behavior.
Chad’s neighbour, Nigeria, who is also Africa’s largest oil producer, is perhaps the biggest reference to corruption in oil sector in the continent. Efforts from the Nigerian government to investigate and curtail the ill can be traced to the 1950s during the Olusegun Obasanjo military regime. A panel of enquiry was set up to investigate a Two Billion, Eight Hundred Thousand Naira fraud which could not be accounted for by the NNPC.
The cases of corruption in the sector once again raises question if the liquid tressure has been a blessing or curse to the “black continent.”