The Economic and Financial Crimes Commission, EFCC, Kano Office, has
recovered a sum of N328,988,296,990.62 (Three Hundred and Twenty Eight
Billion, Nine Hundred and Eighty Eight Million, Two Hundred and Ninety Six
Thousand, Nine Hundred and Ninety Naira, Sixty Two Kobo) from nine major
oil marketers across the country.
The recovery was sequel to a petition against the leadership of Nigeria
National Petroleum Corporation, NNPC and its subsidiary, Pipelines and
Product Marketing Company, PPMC.
The petition alleged that a whooping sum of N40billion had been diverted
by the major oil marketers in connivance with the leadership of the NNPC
and PPMC.
The EFCC in a swift reaction referred the petition to a special task force
who swung into action by conducting discrete investigation.
Findings by the operatives of the EFCC revealed that the oil marketers
were actually indebted to the federal government of Nigeria to the tune of
N91,519,485,204.44 (Ninety One Billion, Five Hundred and Nineteen Million,
Four Hundred and Eighty Five Thousand, Two Hundred and Four Naira, Forty
Four Kobo) between 2010 and 2016.
Further investigation into the allegation also revealed that the oil
marketers had continued to obtain petroleum products from the government
without proper payment, in violation of the NNPC/PPMC credit facility
regulations; a probe of which further led to the discovery of
N258,928,926,351.93 (Two Hundred and Fifty Eight Billion, Nine Hundred and
Twenty Eight Million, Nine Hundred and Twenty Six Thousand, Three Hundred
Fifty One Naira, Ninety Three Kobo).
Following the latter discovery, the total amount of debt stands at
N349,818,411,556.37 (Three Hundred and Forty Nine Billion, Eight and
Eighteen Million, Four Hundred and Eleven Thousand, Five Fifty Six Naira,
Thirty Seven Kobo).
Upon the conclusion of the preliminary investigation, officials of
NNPC/PPMC and all the managing directors of the concerned companies which
are NNPC retails, Conoil Plc, Total Plc, OVH Energy Plc, Oando Plc, Forte
Oil and Gas Plc, Mobil Plc, MRS Oil Plc, and NIPCO Oil Plc were invited to
the Kano Zonal Office of the Commission where their statements were
recorded following which the recovery process commenced.
So far, a sum of N328,988,296,990.62 (Three Hundred and Twenty Eight
Billion, Nine Hundred Eighty Eight Million, Two Hundred and Ninety Six
Thousand, Nine Hundred and Ninety Naira, Sixty Two Kobo) has been
recovered from the major oil marketers.
The outstanding debt now stands at N20,765,919,869.48 (Twenty Billion,
Seven Hundred and Sixty Five Million, Nine Hundred and Nineteen Thousand,
Eight Hundred Sixty Nine Naira, Forty Eight Kobo).