The Economic and Financial Crimes Commission, EFCC, Kano Office, has
\nrecovered a sum of N328,988,296,990.62 (Three Hundred and Twenty Eight
\nBillion, Nine Hundred and Eighty Eight Million, Two Hundred and Ninety Six
\nThousand, Nine Hundred and Ninety Naira, Sixty Two Kobo) from nine major
\noil marketers across the country.<\/p>\n
The recovery was sequel to a petition against the leadership of Nigeria
\nNational Petroleum Corporation, NNPC and its subsidiary, Pipelines and
\nProduct Marketing Company, PPMC.<\/p>\n
The petition alleged that a whooping sum of N40billion had been diverted
\nby the major oil marketers in connivance with the leadership of the NNPC
\nand PPMC.<\/p>\n
The EFCC in a swift reaction referred the petition to a special task force
\nwho swung into action by conducting discrete investigation.<\/p>\n
Findings by the operatives of the EFCC revealed that the oil marketers
\nwere actually indebted to the federal government of Nigeria to the tune of
\nN91,519,485,204.44 (Ninety One Billion, Five Hundred and Nineteen Million,
\nFour Hundred and Eighty Five Thousand, Two Hundred and Four Naira, Forty
\nFour Kobo) between 2010 and 2016.<\/p>\n
Further investigation into the allegation also revealed that the oil
\nmarketers had continued to obtain petroleum products from the government
\nwithout proper payment, in violation of the NNPC\/PPMC credit facility
\nregulations; a probe of which further led to the discovery of
\nN258,928,926,351.93 (Two Hundred and Fifty Eight Billion, Nine Hundred and
\nTwenty Eight Million, Nine Hundred and Twenty Six Thousand, Three Hundred
\nFifty One Naira, Ninety Three Kobo).<\/p>\n
Following the latter discovery, the total amount of debt stands at
\nN349,818,411,556.37 (Three Hundred and Forty Nine Billion, Eight and
\nEighteen Million, Four Hundred and Eleven Thousand, Five Fifty Six Naira,
\nThirty Seven Kobo).<\/p>\n
Upon the conclusion of the preliminary investigation, officials of
\nNNPC\/PPMC and all the managing directors of the concerned companies which
\nare NNPC retails, Conoil Plc, Total Plc, OVH Energy Plc, Oando Plc, Forte
\nOil and Gas Plc, Mobil Plc, MRS Oil Plc, and NIPCO Oil Plc were invited to
\nthe Kano Zonal Office of the Commission where their statements were
\nrecorded following which the recovery process commenced.<\/p>\n
So far, a sum of N328,988,296,990.62 (Three Hundred and Twenty Eight
\nBillion, Nine Hundred Eighty Eight Million, Two Hundred and Ninety Six
\nThousand, Nine Hundred and Ninety Naira, Sixty Two Kobo) has been
\nrecovered from the major oil marketers.<\/p>\n
The outstanding debt now stands at N20,765,919,869.48 (Twenty Billion,
\nSeven Hundred and Sixty Five Million, Nine Hundred and Nineteen Thousand,
\nEight Hundred Sixty Nine Naira, Forty Eight Kobo).<\/p>\n","protected":false},"excerpt":{"rendered":"
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…<\/p>\n","protected":false},"author":1,"featured_media":57408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-58845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n