SUBSIDY FRAUDSTERS

Today, Senate just released the list of oil companies companies that have been milking Nigeria dry thru subsidy removal. N3.655 trillion between 2006 and September 2011. It also disclosed that some 100 companies shared over N1.426 trillion between January and August 2011 alone.
Some of them are biggest oil fraudsters engaged in round tripping of oil products, which is the process whereby unscrupulous oil importers present the same cargo of oil to receive subsidy payments, more than once, or get oil from Nigerian refineries and present falsified papers claiming that its imported oil, so they can collect subsidy payments from the FG. Some of them even fill their heavy ship with water and present as oil to collect subsidy, Just pity GEJ cos he is facing the biggest battle of his life as president. Some ppl are killing Nigeria. This is too much


1. OandO Nigeria Plc (Managing Director - Mr. Wale Tinubu) - N228. 506 billion
2. MRS Oil Nigeria Plc (Alhaji Sayyu Idris Dantata as Chairman) - N224.818 billion
3. Pinnacle Construction (Mr. Peter Mbah, Managing Director) - N300 billion
4. Enak Oil & Gas (A shadowy company, Edem Duke maybe) - N19.684 billion
5. CONOIL (Mike Adenuga, Chairman) - N37.960 billion
6. Bovas & Co. Nig. Ltd. (Bamidele Samson, Managing Director) - N5.685 billion
7. Obat Oil & Petroleum Ltd (FEO Akinruntan) - N85 billion
8. Folawiyo Oil (Yinka Folawiyo, Chairman) - N113.3 billion
9. IPMAN Investment Limited (a faceless organization) - N10.9 billion
10. ACON (ACORN PETROLEUM LTD) (Alhaji Aliko Gwadabe) - N24.1 billion
11. Atio Oil (another faceless company)- N64.4 billion
12. AMP (another faceless company) - N11.4 billion
13. Honeywell (Chief Oba Otudeko, Nino Ozara) - N12.2 billion
14. Emac Oil (another faceless company) - N19.2 billion
15. D.Jones Oil (same as G.D Jones, an independent family run UK Oil Company?) - N14.8 billion
16. Capital Oil (Ifeanyi Patrick Ubah) - N22.4 billion
17. AZ Oil (Chief Alexander Chika-Okafor) - N18.613 billion
18. Eterna Oil (Alhaji Mahmud Bamanga Tukur & Fola Adeola) - N5.57 billion
19. Dozil Oil (another faceless company) - N3.375 billion
20. Forte Oil Plc (Olufemi Peter Otedola, Zira Malagadi) - N8.582 billion
21. Integrated Oil & Gas (Captain Ihenacho Emmanuel) - N30.777 billion
22. African Petroleum (Femi Peter Otedola, Chairman) - N104.58 billion
23. A. Rano (AA Rano Nigeria Ltd, Alhaji Auwalu, a Kano transporter?) - N1.14 billion
24. A.S.B Investment Company Ltd- (a faceless company) - N3.16 billion
25. Arcon Plc - N24.116 billion
26. Aminu Resources - N2.3 billion
27. Avante Guard - N1.14 billion
28. Avido - (a faceless company) - N3.64 billion
29. Boffas & Company - N3.67 billion
30. Brilla Energy (a faceless company) - N960.3 million
31. DownStream Energy - N789.648 million
32. Inco Ray (a faceless company) - N1.988 billion
33. ASCON Oil – (Dr. Edozien) N5.271 billion
34. Channel Oil - N1.308 billion