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Saturday, 18 March 2017

NNPC Reports Capital Oil, MRS To DSS, EFCC Over N17bn Stolen PMS

By Ige Olugbenga

The NNPC has reported Capital Oil and Gas Limited and MRS Limited to the EFCC and the DSS over the duo’s illegal sale of about 130 million litres of petrol valued at N17.439 billion belonging to it.

The NNPC in a statement said its action was part of measures to achieve full recovery of the product or its cash equivalent stored in the facilities of the two indigenous downstream operators.

Henry Ikem-Obih, NNPC Chief Operating Officer, further stated that the national oil company had set up two committees to evaluate the roles played by some of its staff in the illegal product evacuation and had undertaken review of its entire throughput policy in order to align it with global best practices.

Disciplinary committee in action

He added that as part of efforts to forestall a repeat of similar occurrence in the future, a disciplinary committee was already investigating the level of involvement of its staff with a view to applying appropriate sanctions as a deterrence measure.

The second committee, he said, was reviewing the Corporation’s policy and guidelines for engaging in throughput arrangements with third parties to establish control measures that could help avert a similar incident in the future.

Providing details of the act by the companies, Ikem-Obih, disclosed 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.

 


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The post NNPC Reports Capital Oil, MRS To DSS, EFCC Over N17bn Stolen PMS appeared first on Concise News.

Source: ConciseNew.Global

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