Welcome to 9jaflaver

HOME | MUSICS | FREEBEAT | VIDEOS | NEWS | TECHS | JOKES | COMEDY VIDEOS | GOSPEL

Celebrity News | Education | Fashion | Football Updates | Lifestyle | Funny Photos

Call Only:- +2348081377637 or +2348111727895

You Can Email Us:- [email protected]



« | »

Capital Oil Pays NNPC N2bn For Diverted Products


The Nigeria National Petroleum Corporation (NNPC) on Wednesday revealed that the Chairman of Capital Oil, Chief Ifeanyi Ubah under investigation for diversion of N11billion worth of petroleum products belonging to the Nigerian National Petroleum Corporation (NNPC) has paid back N2 billion out of the N11billion to the NNPC.
The chief operating officer, downstream-NNPC, Mr. Henry Nkem Obi disclosed in his presentation at a two-day investigative hearing organized by the House Committee on Petroleum (Downstream) on the disappearance of petroleum products and the spate of kerosene explosions in the country.
Nkem Obi told the committee that prior to the diversion of the petroleum products by Chief Ubah, NNPC had an agreement with Capital Oil that no party is to tamper with any petroleum products consignment in its custody without the knowledge of the other party.
He said that upon discovering that Capital Oil had diverted the petroleum products in its custody, the corporation reached out to relevant and sister agencies to help in the recovery of the diverted products.
“We’ve since engaged in the process of negotiations for defaulting party to return products to storage or pay the cash equivalent. Capital Oil has paid N2 billion and negotiations to get the full payment are on-going,” the COO said.
This revelation is coming on the heels of the ultimatum given to Chief Ubah and Capital Oil by the House to appear before the committee unfailingly today to speak on the disappearance of petroleum products worth N11 billion belonging to the NNPC.
Chairman of the committee, Hon. Akinlaja Joseph, while issuing the ultimatum, accused Ubah and Capital Oil of evading the invitation from the committee summoning him to appear and testify. Also expected to appear before the House committee today is the managing director of the NNPC retail.
Earlier, Speaker of the House, Yakubu Dogara, said that the disappearance of the N11billion worth of petroleum products belonging to the NNPC from the Capital Oil tank farm in Lagos, was capable of jeopardizing the nation’s economy by reducing government’s revenue and hampering efforts to exit from economic recession.

 

Click Here To Comment On This Post

 

Share This Post:-

[Music] Davido – Fia

[Music] Nelson Cool – Ifeoma

[Music] Kiss Daniel – Yeba

[Music] Lil Kesh Ft Rankfiizy – Ghetto Boi

[Music] Tekno Ft Wizkid – Mama

[Music] Tiwa Savage Ft Wizkid And Spellz – Ma Lo

[Music] Olamide – Enimimomi

[Music] Mr Never Ft Marvey Muzique – Let You Know

[Music] Phyno Ft Olamide – Augment

author image
About 9jaflaver owner (Mr Ejump)

Mr Ejump Is the owner/CEO of 9jaflaver, he's an economist, a loving, and friendly young man. CONNECT via:- FACEBOOK TWITTER


Posted by on July 13, 2017.

Categories: 9ja news

There is love in sharing

0 Responses

Don't Just Read A Post And Go, Comment Below To Make The Post Lively

Do You Have Something To Say? Comment In The Box Below

Your Name Below

NOTE:- After Dropping your comment, keep calm, it will take 5mins before it appears.

« | »


Hottest Songs This Week

FOR MORE MUSICS CLICK HERE

Hottest Videos This Week

FOR MORE VIDEOS CLICK HERE

9jaflaver Music Of The Week

Lil Kesh Ft Rankfiizy – Ghetto Boi

9jaflaver music of the week

DOWNLOAD HERE

Also Check Out:-

Nelson Cool – Ifeoma

Also check out

DOWNLOAD HERE

Mr Never Ft Marvey Muzique – Let You Know

Also check out

DOWNLOAD HERE

Advertise | About Us | Privacy Policy | Contact Us | Content Removal | DMCA

Like us on facebook | Follow us on twitter
Copyright © 2017 9jaflaver
Powered By: 9jaflaver