Capital Oil Pays Nnpc N2bn For Diverted Products - Politics - Nairaland
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| Capital Oil Pays Nnpc N2bn For Diverted Products by eyesoflagos: 5:52am On Jul 13, 2017 |
CAPITAL OIL PAYS NNPC N2BN FOR DIVERTED PRODUCTS source : http://www.eyesoflagos.com/2017/07/capital-oil-pays-nnpc-n2bn-for-diverted.html 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. 4 Likes
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| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by mainkendo: 5:54am On Jul 13, 2017 |
Hmmmmmm |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by sarrki(m): 5:57am On Jul 13, 2017 |
N some online criminals are supporting this guy when he was arrested Pay all the money ifeanyi 82 Likes 5 Shares |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by KahlDrogo(m): 5:58am On Jul 13, 2017 |
I thought some Nnewi and Wawa Jews said he didn't steal a penny, that he was being witchunted because he is Ibo.  Maybe the money is just a loan to the fg.  80 Likes 5 Shares |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by greatiyk4u(m): 6:06am On Jul 13, 2017 |
Buhari is the only bulldozer that can demolish corruption and corrupt persons in Nigeria but, alas! Sickness no let the man be Truly better things hardly last However, I laughed when some groups of self acclaimed IPOB loyalist were celebrating Makarfi's victory at New Berries Bar in Enugu yesterday I was afraid of asking them if election will now hold since their darling prefered PDP chair has been handed over to whom they admire (another Northerner) because they were paying for the ORIJI and Nkwobi combo that I was enjoying while rejoicing (not from heart) with them God please bring Buhari back because Nigeri needs him more than any thing now 85 Likes 5 Shares |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by chinybelle(f): 6:07am On Jul 13, 2017 |
Only in Nigeria 1 Like |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by Nobody: 6:40am On Jul 13, 2017 |
sarrki: Afonjas...all they do is wail and wail from morning to night about Igbos. Igbos is their nightmare. Ask yourself why is he paying only 2billion out of 11 billion? It's called "settlement" reached by both parties. Doesn't mean either one is guilty. Sometimes, people just want to move on from situations like this from dragging on, they just settle and move on. 20 Likes 5 Shares |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by rusher14: 6:52am On Jul 13, 2017 |
Ifeanyi would only pay up after a shake down and detention. Evans would have been useful here. 8 Likes 1 Share |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by madridguy(m): 9:02am On Jul 13, 2017 |
Ok |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by obajoey(m): 9:03am On Jul 13, 2017 |
imagine. this is one out of hundreds. naija o ga oo 3 Likes 1 Share |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by ychris: 9:03am On Jul 13, 2017 |
...then why is that supposed to make FP twice? The source though.... what a reliable source as that |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by Jeezuzpick(m): 9:04am On Jul 13, 2017 |
Really? So na true? Then why are heads not rolling? 1 Like |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by obailala(m): 9:04am On Jul 13, 2017 |
KahlDrogo:The point isnt whether he diverted/claimed NNPC products worth N11billion, the point is that the same FG has been owing him N16bn. 12 Likes |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by Aburi001: 9:04am On Jul 13, 2017 |
Na when he go pay the balance? #2 billion naira out of #11 billion naira, it's small na |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by MaziOmenuko: 9:06am On Jul 13, 2017 |
Lol...some myopic dudes were saying NNPC was owing him bla bla bla. He thinks it was the GEJ corrupt filled govt were they were fleecing the nation with fake subsidy claims and okpollo-eyed Denziani was protecting them with support from the chief-in-corruption at aso rock! This is one of the 40-thieves that raided and ruined our common wealth when the alibaba was president. 22 Likes |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by DavidEsq(m): 9:08am On Jul 13, 2017 |
greatiyk4u:Why u no tell us say na dis kain tin u dey flex na? At least we for com join u guzzle tins na. 1 Like |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by transient123(m): 9:08am On Jul 13, 2017 |
If Nigeria didn't kill corruption, corruption will kill Nigeria. All corrupt business men and politicians must be killed to salvage the little that is left. 8 Likes 1 Share |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by 989900: 9:08am On Jul 13, 2017 |
obailala: He has lawyers -- let them prove it and seek redress. 7 Likes |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by alcmene: 9:08am On Jul 13, 2017 |
I don't think some peeps really understand what's going on here. Capital oil didn't deny selling off the products belonging to the NNPC but did so in accordance with the law. This law enables one to sell off the products/goods stored in one's depot when the 2nd party defaults on rent payment. NNPC should pay him his rent and stop intimidating the young man. 3 Likes 2 Shares |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by transient123(m): 9:09am On Jul 13, 2017 |
If Nigeria can't bury corruption, corruption will massacre Nigeria. All corrupt business men and politicians must be executed to salvage the little that is left. 1 Like |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by bakynes(m): 9:10am On Jul 13, 2017 |
obailala:If the FG owes him 16bn like you and your IPOB brothers claim why is he not suing the FG to court for unlawful detention and debt instead he is paying the FG 2bn naira for what exactly? Receive sense. 29 Likes 1 Share |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by obailala(m): 9:10am On Jul 13, 2017 |
989900:I think that's what he's doing presently. |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by TruthNigeria(m): 9:10am On Jul 13, 2017 |
sean1000x: Read and comprehend..don't be a Ful & Puzzy.Capital Oil has paid N2 billion and negotiations to get the full payment are on-going,” the COO said. 10 Likes |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by Nobody: 9:11am On Jul 13, 2017 |
greatiyk4u: Keep deceiving urself in broad daylight. |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by Nobody: 9:13am On Jul 13, 2017 |
Capital oil is not big enough to pay at once so they are paying in tranches. End of. 6 Likes |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by amicdan(m): 9:13am On Jul 13, 2017 |
Two-bit defence  sean1000x: 1 Like |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by kuuljay(m): 9:16am On Jul 13, 2017 |
greatiyk4u:I was there too the thing weak me,I had never been confused that much in my life last night...come see die hard biafrans declaring free beer I was like am I dreaming  4 Likes
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| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by Amberon11: 9:17am On Jul 13, 2017 |
But igbos said he didn't steal a dime. Tribalism and bigotry has finished Nigeria. 7 Likes |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by gbishman: 9:18am On Jul 13, 2017 |
Should the country be negotiating with an economic saboteur, all monies should be gotten back, his company be blacklisted and if he is chairman of his board he should be replaced. This is nonsense. 1 Like |
| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by jazinogold(m): 9:18am On Jul 13, 2017 |
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| Re: Capital Oil Pays Nnpc N2bn For Diverted Products by bewla(m): 9:19am On Jul 13, 2017 |
have they or they will |
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