EFCC recovers N328.9bn from Forte Oil, Oando, Total , 5 others
The Economic and Financial Crimes Commission (EFCC), has recovered N328.9 billion debt owed Nigerian National Petroleum Corporation (NNPC), by Forte Oil and Gas Plc, Oando Plc, Total Plc, and five other major oil companies.
The other companies are Conoil Plc, OVH Energy Plc, Mobil Plc, MRS Oil Plc, and NIPCO Oil Plc. EFCC made the recovery of the huge sum after quizzing the managing directors of eight oil major firms. Mr. Wilson Uwujaren, the EFCC spokesman, said in a statement that the recovery was sequel to a petition against the leadership of the NNPC and its subsidiary, Pipelines and Product Marketing Company (PPMC).
Uwujaren said the petition alleged that N40 billion was diverted by the major oil marketers in connivance with the leadership of the NNPC and PPMC. He said the anti-graft agency referred the petition to a special task force which swung into action by conducting discrete investigation.
He said, “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 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 .
“Following the latter discovery, the total amount of debt stands at N349,818,411,556.37. “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 has been recovered from the major oil marketers. and the outstanding debt now stands at N20,765,919,869.48.
