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Indicted petroleum companies in Nigeria's subsidy probe have concluded plans
to sue the House of Representatives even as the Nigeria National Petroleum
Corporation (NNPC) denied any fraudulent withdrawals to recover its subsidy
claims.

The report had indicted 18 companies allegedly owned by ministers, ex-
governors and powerful cabals of fraudulently receiving over N200 billion in
subsidy payments.

Mr Mike Ozekhome told journalists in Lagos that he has been instructed by
the angry companies to file a lawsuit against the House to demand N100
billion for punitive damages.

The indicted companies are:  Mobil Oil Nigeria, CAH Resources Association
Limited, Somerset Energy Services, Fresh Synergy Oil Limited, AX Energy
Limited, Ibafon Oil Limited, Mut-Hass Petroleum Limited and Techno Oil(N1.
036 b);Oil Bath,

Other are: Crust Energy Limited, Petrotrade, Lucky Energy, Lottoj Oil,
Stonebridge Oil Limited, Rocky Energy, Oakfield Synergy Network Limited,
Nepal Oil and Gas Service,   and Prudent Energy and Services Limited.

Meanwhile, the Nigeria National Petroleum Corporation, NNPC has faulted the
committee's  report saying allegations of double withdrawals against the
corporation were “unfounded and absurd.”

The report had accused NNPC of withdrawing from two different sources
simultaneously to recover its subsidy claims.

Mr Levi Ajuonuma, Group General Manager, Group Public Affairs Division of
the Corporation, in a statement over the weekend challenged the house to
provide evidence of their claims.

His words:

“We challenge both the CBN and Ad Hoc Committee to provide evidence that
such payments as alleged were made to NNPC. They must show authorisation
for the payments as well as breakdown of the amount, purpose for the
payments, beneficiary accounts in which such payments were made and the
utilisation of such payments

“For the purposes of clarity, subsidy payment to NNPC is not based on Cash
remittance. The mechanics of subsidy recovery by NNPC is not fund based but
by way of deduction from crude cost due. As a matter of fact, from the
commencement of the subsidy regime there was never a time when CBN paid
any money to NNPC in respect of subsidy claim”.

“The basis for the deduction of both cash calls for Joint Venture operations and
NNPC’S subsidy payments as a first line charge on the income of the Federal
Government is statutory and founded on the Appropriation Act which was
passed by the National Assembly. Under the said Appropriation Act, certain
budgetary items including subsidy payments to the NNPC are listed as first
line charges on the income of the Federation,”

“The Committee accepted the Cash call as first line charge yet alleged that the
subsidy aspect was illegal.  It is clear that the tone of the Committee’s report
is not only damaging to the Corporation but to the entire nation. At this stage,
it is pertinent to ask the question, whose interest is this committee serving".
Subsidy scandal: Indicted marketers head to court,
as NNPC denies any wrongdoing
| More
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