The Economic and Financial Commission (EFCC) has been drawn into a probe of Capital Oil and Gas Limited over missing N11 billion petrol funds at its facility.
The Nigerian National Petroleum Corporation (NNPC), which yesterday declared this, confirmed that it involved the EFCC, Department of States Security (DSS) and the National Assembly as a part of measures to achieve full recovery of over 130 million litres of Premium Motor Spirit (PMS), also known as petrol, stored in the facilities of Capital Oil and Gas Limited and the MRS Limited.
The two indigenous downstream operators, MRS Limited and Capital Oil & Gas Limited, received the product, according to a statement by the Group General Manager. Group Public Affairs of the NNPC, Ndu Ugbamadu, under a throughput arrangement to ensure a robust strategic reserve.
The product however disappeared under inexplicable circumstances. Providing details of the act by the companies, Mr. Henry Ikem-Obih, NNPC Chief Operating Officer, Downstream, Ugbamadu statement read, told journalist in Abuja, that the infraction was discovered earlier in the year when the Corporation had need to access the over 100 million litres of petrol stored at the Capital Oil & Gas depot for NNPC Retail and just over 30 million litres in MRS Limited depot all in Apapa area of Lagos.
“We instructed the Nigerian Products Marketing Company (NPMC) a subsidiary of NNPC, to send additional trucks to those locations to move products for distribution aimed at meeting a supply shortfall we discovered in the market, but after days of not being able to access the terminals we had to take a decision as NNPC Management to invite auditors and inspectors to go and do a physical check on the inventories,” he said.
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