Security agencies trail fraudulent oil marketers, recover N771m forfeited assets

0 16

Get real time updates directly on you device, subscribe now.

Chibisi Ohakah, Abuja

Security agencies are on the trail of oil marketers who had underpaid for petroleum products supplied to them from Petroleum Products Marketing Company (PPMC) Kaduna Depot, of which assets worth over N771million have been recovered from those caught.

Some of the assets recovered include filling stations, water factories and six sports utility vehicles, adding that the forensic investigation would be extended to the other depots across the country to stop the bleeding of the national oil company.

Chairman of Nigerian National Petroleum Corporation [NNPC] anti-corruption committee, Mr Mike Balami, said the committee in collaboration with the Department of State Security Services (DSS), Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other Related Offences Commission, to recover the assets from the defaulting marketers.

NNPC group general manager, group public affairs division, Mr Ndu Ughamadu, confirmed in Abuja that the NNPC Anti-Corruption Committee brought in forensic experts to uncover the shady deals by some of the marketers affected.

Balami noted that it was established that the affected marketers lifted petroleum products from the PPMC Kaduna depot without evidence of payment and when confronted with the evidence they admitted to the offence and failed to pay their liabilities.

He stated that NNPC group managing director, Dr Maikanti Baru, was passionate about stopping all the leakages in the corporation, stressing that the forfeited assets would be handed over to NNPC Corporate Asset Boarding and Disposal Committee (CABDC) for immediate disposal.

Mr Balami added that investigation into the lifting of petroleum products without evidence of payment was continuing, urging all relevant stakeholders to support the NNPC Anti-Corruption Committee in its onerous task of recovering all its monies outside NNPC’s system.

He said that this was the first time that the NNPC would be taking over assets forfeited by marketers who defaulted in their terms of engagement.

Subscribe to our newsletter

Get timely updates on Local Content and other Energy industry related news
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.