The national assembly has invited stakeholders to partake in a forensic investigation into the “irregularities and alleged corruption” in the Nigerian National Petroleum Company Retail Limited and the acquisition of OVH Energy Marketing Ltd.
Following the deal, OVH Energy was expected to merge with NNPC Retail Limited — adding more than “However, the deal was enmeshed in allegations connected to the number of filling stations NNPC took over from OVH, and the ownership and working structure of NNPC Retail after the acquisition. Other areas include reasons for NNPC’s inability to conclude the OVH acquisition transaction, and all OVH acquisition documents.The committee also invited stakeholders to participate in uncovering the resurgence of fuel queues in petrol stations, unavailability of fuel stock for downstream domestic refineries, disruption of distribution of petrol products, unfair subsidisation of petrol and other petroleum products racketeering and favouritism “in the pro forma invoice system regime”.
In addition, they would probe the allegation of the introduction of monopoly in petroleum products production, and sharp practices at depots and non-availability of petroleum products after payment.The senate ad-hoc committee on alleged economic sabotage in the Nigerian petroleum industry also invited heads of ministries, departments, and agencies and stakeholders to attend an interactive session on August 7.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: thecableng - 🏆 2. / 80 Read more »
Source: vanguardngrnews - 🏆 5. / 75 Read more »