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Togo

Togo - Embezzlement of 500 billion FCFA : The government's reactions are eagerly awaited

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The Togolese people are eagerly awaiting comments or reactions from their leaders after an embezzlement of 400 to 500 billion FCFA in the oil sector has been raised in recent weeks by a Togolese newspaper.

Civil society associations and other political actors demand accountability after the publication of the investigation by the newspaper L'Alternative, which accuses Mr. Fabrice Adjakly and his network of having put in place a system that has enabled them to embezzle up to 500 billion FCFA, about 850 million dollars from the Togolese taxpayer since 2014.

Terim Consult SARLU (TCS), which places orders for petroleum products to the country, has managed to have only one supplier called VITOL.

The TCS founded by Fabrice Adjakly has the blessing of the Petroleum Product Price Monitoring Committee (CSFPPP), whose coordinator is none other than the same Adjakly.

The latter being in collusion with VITOL, which suffers from no competition, delivers fuel at prices fixed at its convenience. Thus, the prices of-











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