Unic Press UK: The Nigerian National Petroleum Corporation (NNPC) has unraveled a $184 million ‘scam’, relating to products that were not delivered by three companies during crude for product swap regime.
NNPC group managing director Maikanti Baru disclosed that three oil companies [AITEO Energy Resource Limited, Ontario Oil and Gas Limited and Televaras Group of Companies] had ‘short-changed’ the corporation.
Baru, who reiterated that the NNPC will fully recover its stock of missing premium motor spirit, said:
‘’We have engaged them and positively too, so far AITEO has been very cooperative and we had extensive reconciliation across all our chains of businesses where they are involved. In the case of Televaras, they have agreed to make tranche payment of $10 million while Ontario has also agreed to come to the table with our team and present their repayment schedule.”
NNPC intensifies anti-corruption
In a similar move, the NNPC has pledged that its value chain will not tolerate graft, but will espouse efficiency and optimization of resources.
“NNPC was the first agency of government to form an in-house anti-corruption committee soon after the proclamation of the ICPC Act. This action showed our commitment to transparency and openness in all what we do and it also showed our zeal to ensure our staff imbibed the culture of fighting corruption. We have meted out quite heavy penalties and we were also able to retire staff who flouted our process,’’ said Baru, on Thursday in Abuja, when he met with the management of the Anti-Corruption Academy of Nigeria (ACAN), which is the research and training arm of the Independent Corrupt Practices and other Related Offences Tribunal (ICPC).
