The Chartered Institute of Taxation of Nigeria (CITN) has described as fraudulent any subsidy paid on premium motor spirit (PMS) on the current price of N87 per litre following the fall of crude oil prices to less than $60 per barrel.

The CITN also tasked the Federal Government, the ministry of finance and Petroleum Product Pricing and Regulatory Agency (PPPRA) to come clean on the subsidy payments.