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Revealed: 21 Oil Marketers Indicted in Aig-Imoukhuede led Committee Report

By on July 27, 2012

Adenuga’s Conoil indicted in the report

Earlier this week, the Aig-Imokhuede led-committee on subsidy claims presented their report to President Jonathan. At the time, all that was disclosed was that there were 21 firms indicted for criminal investigation for receiving N382 billion in subsidy overpayments.

The identities of the companies have been revealed, and they appear to be 25 and not 21 as earlier speculated.

The companies are Ceoti Limited; Conoil Plc; Downstream Energy Source Limited; Eterna Oil Plc; Eurafic Oil and Gas Limited; Heyden Petroleum; Lumen Skies Limited; Majope Investment Limited; Masters Energy Oil and Gas Limited; Matrix Energy Limited; Menol Oil and Gas Limited; MOB International Services Limited; MRS Oil and Gas Plc.

Also indicted are Nasaman Oil Services Limited; Naticel Petroleum Limited; Ocean Energy Trading and Services Limited; Pinnacle Contractors Limited; Sifax Oil and Gas Limited; Tonique Oil Services Limited;  Top Oil and Gas Development Company Limited; Conoil Plc; Alminnur Resources Limited; Brila Energy Limited; Caades Oil and Gas Limited; and Capital Oil.

The 25 companies were recommended by the committee for criminal investigation for N62 billion obtained fraudulently through the subsidy scheme.

50 other oil marketers were recommended for further investigation for audit lapses amounting to N 186 billion in their shore tank certifications.

13 OM&Ts were recommended for further investigation to verify sales proceeds amounting to N 101 billion.

116 OM&T’s were identified as receiving irregular payments totalling N 31 billion as fiscal concession without authorization.

Companies Recommended for Criminal Investigation for Fraud:
S/No   Oil Marketing & Trading Companies Amount (N)
1. Alminnur Resources Limited 1, 051, 030, 434.63
2. Brila Energy Limited 963,796,199.85
3. Caades Oil & Gas Limited 487,799,826.80
4. Capital Oil & Gas Industry Limited 8, 898, 180, 238. 91
5. Capital Oil Plc 1, 216, 298, 517. 20
6. Ceoti Limited 2, 944, 681, 700. 17
7. Conoil Plc 2, 948, 074, 095. 90
8. Downstream Energy Sources Ltd 1, 774, 089, 040. 63
9. Eterna Plc 2, 122, 656, 639. 30
10. Eurafric Oil & Gas Limited 2, 261, 859, 123. 70
11. Heyden Petroleum Limited 594,714,089.31
12. Lumen Skies Limited 774, 787, 752. 86
13. Majope Investment Limited 959,813,734.22
14. Masters Energy Oil & Gas 2, 908, 996, 291. 29
15. Matrix Energy Limited 6, 233, 802, 137. 15
16. Menol Oil & Gas Limited 1,671,595,830.87
17. M.O.B International Services Ltd 2, 137, 326, 914.10
18. MRS Oil & Gas Plc 6,086,531,305.33
19. Nasaman Oil Services Limited 3, 262, 684, 081. 86
20. Naticel Petroleum Limited 3, 081, 370, 978. 34
21. Ocean Energy Trading and Services Ltd 1,778,180,051.20
22. Pinnacle Contractors Limited 2, 755, 646, 744. 04
23. Sifax Oil & Gas Limited 1,033,119,489.60
24. Tonique Oil Services Limited 1,575,014,046.51
25. Top Oil & Gas Devt. Company Ltd 2, 360, 733, 484.43
TOTAL 62,501,511,789.24

 

4 Comments

  1. sonola

    July 27, 2012 at 8:59 am

    God save Nigeria…….Black kettle calling pot black that’s Aig-Imoukhuede!!

  2. Ogbebo Osaretin

    July 27, 2012 at 10:41 am

    the fact the committee was led by aig, makes it no better than the farouk led committee. Aig is a criminal and his dooms day also looms.

    Naija, what a soap opera

  3. DD

    July 27, 2012 at 12:29 pm

    Osanobua!!!!!

  4. DD

    July 27, 2012 at 12:36 pm

    Meanwhile, these subsidies do not translate to the poor Nigerians o. Not wonder people never felt the impact of such subsidies. and on top of that these people will overcharge again fraudulently? But, let’s call a spade a spade. Even these witch hunt is a classical case of dog eat dog, because Aig-Imuoukhuede, I learnt is also a grand armed robber. I wonder when we are going to get real justice in Nigeria?