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    Home » How oil marketers defrauded NNPC of over N771 million

    How oil marketers defrauded NNPC of over N771 million

    March 8, 2019
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    How oil marketers defrauded NNPC of over N771 million
    *NNPC-Towers, Central Business District, Garki, Abuja.

    *As affected marketers forfeit assets

    OpeOluwani Akintayo

    08 March 2019, Sweetcrude, Lagos — The Nigerian National Petroleum Corporation, NNPC, has revealed how some oil marketers defrauded the country of over N771 million.

    This was disclosed by the NNPC spokesperson, Ndu Ughamadu, in a statement on Tuesday, quoting the Chairman of the NNPC anti-corruption Committee, Mike Balami.

    According to him, the affected oil marketers in Kaduna had underpaid the NNPC for petroleum products supplied to them from the Petroleum Products Marketing Company, PPMC, Kaduna Depot, adding that they (marketers) have been made to forfeit assets valued at over N771 million.

    The assets recoveries were made by a committee put in charge of the investigation in collaboration with federal government’s intelligence and anti-corruption agencies, the Department of State Security Services, DSS, the Economic and Financial Crimes Commission, EFCC and Independent Corrupt Practices and Other Related Offences Commission.

    Explaining how the fraud was detected, Mr. Balami said the NNPC anti-corruption committee had brought in forensic experts, adding that the investigation would be made to go round other depots across the country.

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    He did not disclose the names of the affected marketers, and the period the underpayment had occurred.

    However, he listed some of the assets recovered to include filling stations, water factories, and six sports utility vehicles.

    The affected marketers, according to him, admitted to the crime after they were confronted with the evidence of their indebtedness, and chose to forfeit their assets in repayment.

    He said the assets forfeited would be disposed of by the NNPC Corporate Asset Boarding and Disposal Committee, CABDC.

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    “Investigation into the lifting of petroleum products without evidence of payment is continuing. I urge all relevant stakeholders to support the NNPC anti-corruption committee in its onerous task of recovering all its monies outside the NNPC’s system,” he said.

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