http://www.thenationonlineng.net/2011/index.php/news-update/34210-efcc-invites-38-oil-marketers-over-n1-3tr-subsidy-cash.html
By Yusuf Alli1 hour ago

The Economic and Financial Crimes Commission (EFCC) has invited 38 oil marketers who allegedly benefited from the controversial N1.3trillion subsidy incurred last year by the Federal Government.

The interrogation of the marketers will begin today in Abuja in batches.

The invitation of the marketers has caused anxiety among some Peoples Democratic Party (PDP) chiefs who are ex-board members of the Petroleum Products Pricing and Regulatory Agency (PPPRA).

The invitation of the marketers followed preliminary screening of oil import records retrieved from the PPPRA last week by the EFCC.

A source in the anti-graft agency, who spoke in confidence, said: “Those invited are all those on the list released by the Senate Committee probing the management of oil subsidy cash.

“All the marketers were served letters of invitation on Friday. They are expected to come with records of their oil imports and the amount of subsidy cash they enjoyed.

“Once we get their records, we will compare these with those of the PPPRA before we engage international security agencies in verifying where they bought products and how they shipped the refined oil.”

The Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, confirmed the invitation.

He said: “We will start interacting with the marketers from Monday (today) but it might be in batches.

“They are to appear with documentation and supporting evidence in respect of all transactions.”

Findings however confirmed that relevant desk officers in PPPRA will be part of the interrogation process to corroborate the veracity of the marketers or claim otherwise.

As of press time, the probe has caused anxiety for some stalwarts of the PDP who had served on the board of the PPPRA at one time or the order.

A source added: “The EFCC probe may go beyond 2011. That is why some PDP members, who were once on the board of the PPPRA, are worried about the ongoing investigation.

“In fact, some members of the National Assembly in the Sixth Senate, who had link with the PPPRA, might also be invited at a later date. Some people benefited from subsidy without importing products.

“Some marketers were also allegedly used to raise subsidy invoice for products that were not shipped to Nigeria .”

It could not be ascertained in what order the marketers will be quizzed by the commission.

The Chairman of the Senate ad-hoc Committee looking into fuel subsidy regime, Senator Magnus Abe, had recently released the list of the affected 38 companies.

The firms and the amount of money they received last year alone are as follows: Oando Nigeria Plc, N228.506billion; Integrated Oil and Gas Plc, N30billion; MRS, 224.818 billion; A.A. Rano, N1.14 billion; A-Z Petroleum, N18.61 billion; A.S.B, N3.16 billion; Arcon Plc, N24.116 billion; African Petroleum, N104.58 billion; Aminu Resources, N2.3 billion; Capital Oil, N22.4 billion; Con Oil, N37.96 billion; Avante Guard, N1.14 billion; Avido, N3.64 billion; Boffas and Company, N3.67 billion; and Brilla Energy, N960.3 million.

Others are: D. Jones Petroleum, N14.86 billion; Downstream Energy, N789.648 million; Dosil Oil and Gas, N3.375 billion; Inco ray, N1.988 billion; Eternal, N5.574 billion; Folawiyo Energy, N113.32 billion; Frado International, N2.63 billion; First Deepwater Oil, N257.396 million; Heden Petrol, N693 million; Honeywell Petrol, N12.2 billion; AMP, N11.417 billion; Ascon, N5.271 billion; Channel Oil, N1.308 billion; Fort Oil, N8.582 billion; Enak Oil & Gas, N19.684 billion; Bovas & Co. Nig Ltd, N5.685billion; and Obat Oil N85billion.

Abe also named AP, N104.5billion; IPMAN Investment Limited, N10.9billion; ACON, N24.1billion; Atio Oil, N64.4billion; AMP, N11.4billion; and Emac Oil, N19.2billion.

In 2006, only MRS, Total and Oando were listed as beneficiaries of the fuel subsidy cash recognised by the Federal Government.

The three companies were said to have been listed as “major marketers.”

But in 2007, AP and Mobil joined and were listed under the category of majors.

The same year, NIPCO was introduced and listed under the category of petrol depot owners.

A new category of “independents” included some marketers who had no depots.

AITEO Energy Resources and Triquest Energy were added in 2007, bringing the total to eight beneficiaries of the fuel subsidy.

The list of subsidy beneficiaries increased sharply in 2008 to 23, made up of six majors.

In 2008, Conoil joined, and NIPCO was joined by Capital Oil and Folawiyo Energy, under the category of depot owners.

The list of “independents” also increased from two in 2007 to 14 in 2008 as AITEO and Triquest were said to have been joined by Triquest Oil services, IMAD Oil & Gas, Integrated Oil and Gas, Rahamaniyya, AMG Petro Energy, Brittania, ACORN, A-Z Petroleum, SHIELD Petroleum and MAJOPE Investment Limited.

And in 2010, the beneficiaries of the subsidy payment under the category of major marketers remained six, the depot owners remained two. But the list of independent marketers went up to 28 with the inclusion of many relatively known companies.