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Oando refutes allegations of Aig Imokhuede led Technical Committee on Subsidy

By on July 3, 2012

Oando, Nigeria’s leading indigenous Oil and Gas company has refuted the allegations of infractions levelled against it by the Federal government constituted technical committee on payment of fuel subsidies.

The firm has denied the allegations of subsidies paid without auditor’s signature on shore tank receipt documents claiming it is indeed in possession of all such documents endorsed by auditor’s from Petroleum Products Pricing Regulatory Agency (PPPRA), Department of Petroleum resources (DPR), and independent inspectors.

On the allegation of receiving subsidies payments without bill of lading documents, the company stated, “Oando has never claimed subsidy without bill of lading.” It added, “indeed it is obvious that a company cannot import without a bill of lading”.

The company also refuted the allegations of subsidies paid without bank sales proceeds. the technical committee had accused oando of being involved in twenty-nine of such transactions. However Ondo stated that it indeed has evidence of all its bank sales proceeds and trucking reports regarding such transactions.

Oando also said it was never invited by the technical committee to defend itself before the release of the report to government.