Nigeria financial crime:Reps To Investigate PPMC For Alleged Corruption
The House of Representatives on Tuesday, December 8, mandated the committee on petroleum resources to investigate some alleged corrupt practices by the officials of Pipeline and Product Marketing Company (PPMC).
A cross-section of House of Reps members.
The House arrived at this resolution after a motion on matter of urgent public importance entitled “urgent need to address the subversion of due process and outright corruption by the management of pipelines and
product marketing company (PPMC),” was raised by by Ndukwe Nkole.
Nkole noted that funds from oil products which is the main source of the country’s revenue was being diverted by the management of the PPMC through illegal transactions.
“Some known oil companies have been programmed to lift dual purpose kerosene (DPK) without making payments for the products and without even having bulk purchase agreements with PPMC, while there is a backlog of companies with paid off invoices who have not been programmed to lift products. Only recently, 20 companies were programmed to lift DPK, out of a backlog of about a 100 companies.
Nkole worried that some companies have been upgraded to the status of “major marketers” by the management of PPMC without the approval of the group managing director, of Nigerian National Petroleum Corporation (NNPC).
“This is intended to subvert due process and divert revenue from our natural resources, because the companies are now entitled to lift product with Five hundred million Naira on credit line,” he maintained.
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