“They tricked the FG and siphoned over N40b” – Okonjo-Iweala lists offences of 25 indicted oil marketers

by Stanley Azuakola

It’s confirmed. Nigeria’s minister of Finance, Dr. Ngozi Okonjo-Iweala is now officially on an offensive.

Since last week when the minister threatened to release names of the marketers indicted by the presidential committee headed by Aig-Imokhuede which investigated subsidy claims, and she did. And she has not looked back.

Last week, Okonjo-Iweala released an initial list of 21, she pinpointed the indicted oil marketers as the instigators behind the proposed strike by some unions in the sector and the fuel scarcity which hit parts of the country. She also released the names of 21 offending oil marketers.

Yesterday, the minister came out swinging once more, adding four more names to the infamous list, with details of the offenses committed by some of them. This brings the total number of oil marketers indicted by the Aig-Imokhuede report to 25.

The four marketers that were initially omitted include Ceoti Limited, Capital Oil Plc, Masters Energy Oil and Gas Ltd, and Heyden Petroleum Limited.

The man who headed the Presidential Committee, Mr. Aigboje Aig-Imokhuede wrote to the president last Wednesday, explaining that he made an error when he presented the report on July 24. He said it was actually 25 oil marketing companies that were indicted by his committee and not 21.

In a statement yesterday by the technical assistant to the minister on Communications, Paul Nwabiukwu, the minister narrated how the indicted marketers tricked the Federal Government and siphoned over N40 billion from the subsidy fund without supplying a litre of fuel to Nigerians.

According to the statement, some of the companies claimed payments for consignments brought in by ships which investigations revealed were either non-existent or somewhere else in the world.

The leading scam marketer, according to the report, was Capital Oil and Gas Ltd, which was indicted for receiving payment of a whopping N10 billion when the shipping lines listed by the company were not near Nigeria at the time of the claims.

The second highest was Matrix Energy Ltd, which claimed N6.23 billion from the fund when no shipping document evidencing payment was available at the time of the transaction.

Conoil Plc on its part, received N2.948 billion without “proof of existence of the mother vessel bill of lading or daughter vessel bill of lading”.

Other oil marketers collected, fraudulently, between N500 million and N2 billion each

THE UPDATED LIST OF 25

• ALMINNUR RESOURCES LIMITED

•  BRILLA ENERGY LIMITED

•  CAADES OIL AND GAS LTD

• CAPITAL OIL & GAS INDUSTRY LTD

• CAPITAL OIL PLC

• CEOTI LIMITED

• CONOIL PLC

• DOWNSTREAM ENERGY SOURCE LTD

• ETERNA PLC

• EURAFRIC OIL AND GAS LTD

• HEYDEN PETROLEUM

• LUMEN SKIES LTD

• MAJOPE INVESTMENT LTD

• MASTER ENERGY OIL & GAS LTD

• MATRIX ENERGY LIMITED

• MENOL OIL & GAS LIMITED

• MOB INTERNATIONAL SERVICES

• MRS OIL & GAS PLC

• NASAMAN OIL SERVICES LTD

• NATICEL PETROLEUM LIMITED

• OCEAN ENERGY TRADING & SERVICES LTD

• PINNACLE CONTRACTORS LTD

• SIFAX OIL AND GAS COMPANY

• TONIQUE OIL SERVICES LTD

• TOP OIL AND GAS DEVELOPMENT COMPANY LIMITED.

Comments (6)

  1. wht can u do 2 stop dis menace n ur nviroment

  2. Our finance minister has done a nice job. The culprits and the comprises should be brought to book to save as a deterent to others if our economy must grow to the better of our dear nation.

  3. Say what you Know!

  4. Okonjo is not saying anything about the bunch of Govt staff in NNPC and Finance ministy that aided in looting the Treasury!

  5. THE STATE OF OUR NATION

    Now that this govt is finally showing that it cannot just bark, but can bite, by taking the cabals head on, refusing to pay billions of Naira in false subsidy claims and demanding the refund of even more billions already swindled off the system, the so called cabals are now fighting back. And have roped in NUPENG on their side to create artificial fuel scarcity all over the nations again.

    Now, our question is, where are the Civil Society Groups that are always vocal in fighting for the rights of all Nigerians? Must we fight the govt alone? How about the few selfish ones in our midst who are sapping the resources of this country thru false means? Are we going to allow them to cripple our economic activities again with artificial fuel scarcity? This is an issue that affects all Nigerians.

    Fuel scarcity or no fuel scarcity, Govt officials, senators and house of reps members would have fuel to use. The cabals would have fuel to use. It is innocent Nigerians like you and I that would bear the brunt.

    Let's rise with one voice to condemn these fuel marketers and resist their antics and insult of our collective intelligence! Enough is enough!!!

    Signed.

    – Association of Conscientious

  6. Naming alone wud not do legal proceedings on how to recover every dime from these rich thieves should start in Ernest and pls madam minister they should not go unpunished. We do not desire another family affair.

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