The 25 indicted companies whose identities were made known exclusively to THISDAY by presidency sources would be investigated for their alleged involvement in the N62,501,511,789.24 fraudulently obtained through the subsidy scheme out of the N382 billion comprising other minor infractions committed by marketers.

The indicted companies include Alminnur Resources Limited, Brila Energy Limited, Caades Oil and Gas Limited, Capital Oil and Gas Industry Limited and Capital Oil Plc. It is suspected that Capital Oil and Gas Industry Limited and Capital Oil Plc are one and same company.

Others include Ceoti Limited, Conoil Plc, Downstream Energy Source Limited, Eterna Oil Plc, Eurafic Oil and Gas Limited, Heyden Petroleum, Lumen Skies Limited, Majope Investment Limited, Masters Energy Oil and Gas Limited, Matrix Energy Limited, Menol Oil and Gas Limited, MOB International Services Limited and MRS Oil and Gas Plc.
The rest of the companies include Nasaman Oil Services Limited, Naticel Petroleum Limited, Ocean Energy Trading and Services Limited, Pinnacle Contractors Limited, Sifax Oil and Gas Limited, Tonique Oil Services Limited and Top Oil and Gas Development Company Limited.

The 25 companies were recommended for criminal investigation over N62 billion, which the committee said was fraudulently obtained through the subsidy scheme.

A further breakdown of the N382 billion showed that the committee also recommended 50 OM&Ts for further investigation, whose shore tank certification amounting to N186,110,925,269.34 was not signed by the external auditors.
http://www.thisdayonline.com/

Euroclydon: The 25 indicted companies whose identities were made known exclusively to THISDAY by presidency sources would be investigated for their alleged involvement in the N62,501,511,789.24 fraudulently obtained through the subsidy scheme out of the N382 billion comprising other minor infractions committed by marketers.

The indicted companies include Alminnur Resources Limited, Brila Energy Limited, Caades Oil and Gas Limited, Capital Oil and Gas Industry Limited and Capital Oil Plc. It is suspected that Capital Oil and Gas Industry Limited and Capital Oil Plc are one and same company.

Others include Ceoti Limited, Conoil Plc, Downstream Energy Source Limited, Eterna Oil Plc, Eurafic Oil and Gas Limited, Heyden Petroleum, Lumen Skies Limited, Majope Investment Limited, Masters Energy Oil and Gas Limited, Matrix Energy Limited, Menol Oil and Gas Limited, MOB International Services Limited and MRS Oil and Gas Plc.
The rest of the companies include Nasaman Oil Services Limited, Naticel Petroleum Limited, Ocean Energy Trading and Services Limited, Pinnacle Contractors Limited, Sifax Oil and Gas Limited, Tonique Oil Services Limited and Top Oil and Gas Development Company Limited.

The 25 companies were recommended for criminal investigation over N62 billion, which the committee said was fraudulently obtained through the subsidy scheme.

A further breakdown of the N382 billion showed that the committee also recommended 50 OM&Ts for further investigation, whose shore tank certification amounting to N186,110,925,269.34 was not signed by the external auditors.
http://www.thisdayonline.com/

Is the Ocean Energy trading and services related to the Ibrus too?

^Do the Ibrus own the Ocean? To thinks that's why you reposted the entire story!
My thots on this supposed final report? Not impressed, it leaves too many questions than answers.