World

Chad unleashes major oil industry graft probe involving stolen funds

Suspects allegedly took 13 billion CFA francs from state-run oil company, spy agencies, says minister

Updated 4 years ago · Published on 03 Jul 2022 11:59PM

Chad unleashes major oil industry graft probe involving stolen funds
Chad is one of the least developed countries in the world according to the United Nations, and joined the ranks of African oil producers and exporters in the early 2000s. – Pixabay pic, July 3, 2022

N’DJAMENA – Investigators in Chad have swooped on senior officials in the oil and financial sectors in the past 10 days in a major anti-corruption operation, the government said today.

The arrested suspects are alleged to have stolen around 13 billion CFA francs (RM91.3 million) from the state-run oil company SHT and the country’s spy agencies, according to Communications Minister Abderaman Koulamallah.

Chad is one of the least developed countries in the world according to the United Nations, and joined the ranks of African oil producers and exporters in the early 2000s.

It remains a modest producer, producing 47 million barrels in 2021, according to the Chadian Observatory of Public Finance.

It has been led for nearly 15 months by military officer Mahamat Idriss Deby Itno, who proclaimed himself transitional president at the head of a junta of 15 generals a day after the death of his father, Marshal Idriss Deby Itno, who was killed in April 2021 fighting rebels.

He had ruled the country with an iron fist for 30 years.

“Many people have been arrested and some have been freed in the context of the investigation into financial embezzlement of 13 billion CFA francs at SHT,” Koulamallah said.

“The case is currently being handled by the judiciary,” and some of the accused will eventually be brought before a judge at the end of the preliminary investigation, he added.

Among those arrested are the powerful former private secretary of General Mahamat Deby, Idriss Youssouf Boy, a cousin and childhood friend of the head of state who is considered one of his closest aides.

Michel Boayam and Tahir Issa Ali Souleymane were also arrested as part of the investigation and immediately dismissed from their posts as director general and deputy director of the SHT.

SHT is a nationalised company set up in 2006. – AFP, July 3, 2022

Related News

Malaysia / 2w

Datuk Seri charged with embezzlement of company funds exceeding RM37 million

Malaysia / 2w

While the focus is on condemning the Madani government, a coup d'état is in process

Malaysia / 1mth

Malaysia must prepare for the effects of the Gulf War

Opinion / 1mth

US attacks in the Gulf show the weaknesses of MOUs

Malaysia / 1mth

Johor state election: MACC receives three reports of alleged corruption

Malaysia / 1mth

Anwar says anti-graft stance driving rivals’ bid to unseat him, urges Johor voters to back PH

Spotlight

Malaysia

Elderly man admits to hitting neighbour with iron rod

Malaysia

Body found at KLIA2 in tyre storage compartment of aircraft from Japan

Malaysia

Factory operator faces rape, unnatural sex charges involving polytechnic student

Malaysia

Ismail Sabri granted RM300k bail after pleading not guilty to asset declaration charge

By Alfian Z.M. Tahir

Malaysia

Sunway Lagoon ride halted as safety probe seeks to protect public - DOSH

Malaysia

Malaysia ready to deploy military expertise for Nepal flood relief, says Defence Minister

Malaysia

Violence in Thailand: Visitors drop by almost 50 per cent

By Ian McIntyre

You may be interested

World

US to press G20 allies to cut remaining economic ties with Iran

World

Iran sets conditions for reopening Strait of Hormuz, including end to regional war

World

Glacier collapse triggers catastrophic floods along Nepal-Tibet border, leaving 1,300 missing

World

US and Canada pledge emergency aid as Nepal flood death toll reaches 160

World

US to deploy new aircraft carrier to Middle East as Iran conflict drags on

World

More than half of world’s land poorly managed, threatening food security and biodiversity

World

Landslide lake overflows on Nepal-China border renews fears of another deadly flood

World

Six months into Iran war, Trump’s war goals remain elusive as conflict drags on