Monday, 20 May 2013
Adenuga, Dantata, Fola Adeola, Others Behind Subsidy Scam, Fuel Scarcity-PREMIUM TIMES
Mr. Adenuga’s company, which was once accused of tax evasion, has been accused of being behind the current fuel scarcity.
Nigerian billionaire, Mike Adenuga, through his company, Conoil Plc, is one of those behind the fuel scarcity being experienced in Abuja, the Federal Government has said.
Mr. Adenuga is not alone in this alleged misdemeanour, according to Finance Minister Ngozi Okonjo-Iweala. Companies owned by other wealthy Nigerians such as Eterna Oil, whose directors are Mahmud Tukur, son of Peoples Democratic Party National Chairman, Bamanga Tukur, and Fola Adeola, the Vice Presidential candidate of the Action Congress of Nigeria in the last presidential elections; and MRS Oil and Gas, believed to be owned by businessman Sayyu Dantata were also found to be instigators of the fuel crisis.
Mr. Adenuga, listed by Forbes Magazine as one of the world’s richest billionaires, is not new to controversy. In 2009, the Ogun State born businessman was indicted by Nigerian tax authorities. The Federal Inland Revenue Service sealed the Lagos office of Conoil, and Continental Oil and Gas, another company owned by the businessman, over the non-remittance of $610 million tax to government. At that time, Mr. Adenuga was able to wriggle his way out of the crisis.
This time however, the FG says it is bent on dealing with Conoil and its other partners in crime over their fraudulent activities.
The subsidy fraudsters
Not content with fleecing Nigeria of hundreds of billions of naira through the fuel subsidy scam, the indicted oil companies, have decided to punish Nigerians by creating artificial fuel scarcity, Mrs. Okonjo-Iweala said.
The companies were earlier indicted of large-scale fraud by the Aigboje Aig-Imoukhuede presidential committee which investigated the 2011 fuel subsidy payments.
“It is clear that those behind the strikes are marketers being investigated for possible fraud. These elements have now resorted to hiding behind the unions to unnecessarily antagonize Government and create hardship for Nigerians,” Mrs. Okonjo-Iweala said in the statement.
Seven of the companies had created fictional ships, which delivered imaginary petrol, for which they got N13 billion naira subsidy payments, PREMIUM TIMES had exclusively reported here.
Some of the others were involved in ship space travel, in which they claimed that vessels that were in China, or UAE, delivered petrol to Nigerian waters at the same time. Nigeria lost 21 billion naira to this category of fraudulent companies.
Already, petrol stations in Abuja are filled with long queues as road users struggle for the little petrol available. Should the oil workers go ahead with their strike which would commence next week, the rest of the country would join in the fuel scarcity.
We remain undaunted
In the statement, Mrs. Okonjo-Iweala said government remained committed to seeing its actions through despite the scarcity.
The minister said following the submission of the report of the Aig-Imoukhuede committee that investigated the payments, the federal government has paid all marketers with “legitimate and unencumbered” claims and that such marketers will continue to be paid.
Between April and May 2012, two batches involving 14 oil marketers with a claim of N17 billion were settled while N25.6 billion worth of claims were paid since early July 2012, the minister said.
In all, between April and August this year, N42.666 billion have been paid to 31 oil marketers.
“Government will continue to encourage honest efforts by genuine companies engaged in fuel importation but we will not fall for the cheap blackmail of indicted marketers who are using all kinds of subterfuge to escape sanctions,” he minister said.
The companies punishing Nigeria
Apart from Conoil, other companies the finance minister mentioned include Alminnur resources ltd, Brilla energy ltd, and Eterna plc, headed by Mahmud Tukur, the son of the national chairman of the PDP, Bamanga Tukur. The Economic and Financial Crimes Commission (EFCC) is already prosecuting the younger Tukur for his role in the subsidy scam, and he has since been granted bail by the court.
Other companies involved are Caades Oil and Gas Ltd, Capital Oil and Gas Industry Ltd, Downstream Energy Source Ltd, Euraafric Oil and Gas Ltd, Lumen Skies Ltd and Majope Investment Ltd.
Matrix Energy Ltd, Menon Oil and Gas Ltd, Mob International Services, MRS Oil and Gas Ltd, Nasaman Oil Services Ltd, Natacel Petroleum Ltd, Ocean Energy Trading and Services, Pinnacle Contractors Ltd. Sifax Oil and Gas Company, Tonique Oil Services Ltd and, Top Oil and Gas Development Co. Ltd, were also named.
Discussing with the cabal
Some other companies, also indicted by the Aig-Imoukhuede committee are however being courted by the government in other to prevent a nationwide fuel scarcity.
Mrs. Okonjo-Iweala said these groups of companies, with infractions which are relatively minor, are already in discussion with government for a quick resolution of the issues.
She said the outstanding claims of companies under investigation for possible refunds to the government, will be netted against their expected refunds to government and those with positive net balance will be processed and paid.
In other words, even though these companies dubiously received fuel subsidy payments, the government will let them off the hook by simply deducting the money they are expected to refund from the genuine subsidy payment the FG owes them.
The Aig-Imoukhuede committee had recommended that all the indicted marketers refund N382 billion to government.
Mr. Imoukhuede had however advised Nigerians not to expect that all the money would be recovered.
MORE NATIONAL AWARDS
GEJ should not only decorate some of these people with GCON but GCFR. What a shame!
Adenuga, odedola, a tinubu ,
Adenuga, odedola, a tinubu , tukur, femi otedola and emeka ofor can only strive in obnoxious act of economic sabotage in a country where the leadership in intelectually attrophied like nigeria. Thesse con men have ipsofacto declared a war on jonatham. What does the moronic jonathan want from ngonzi before taking action. Nowa sinking jonathan has an opportunity to come afroat and regain lost respect. Fron nigeria. Will jel act or stay mute and let country look like an inverted con .
PLEASE WHY.......?????
Why are the following characters always involved in all the stealing, lootint of the treasuries and other financial scams?
Adenuga, Abdulsalam Abubarkar, Oba Otudeko, Bamanga Tukur, Ahamadu Ali, Arisekola, Don Etiebet, Dangote, Femi Otedola, etc etc.
Be it Oiil Subsidy, Stock Exchange, Halliburton, Ship Devt. Fund, Pet. Trust Fund, Seimens, and all others, these FAT THIEVES are there. Do they have wives and children? Do they know that a good name is better than riches as The Book Of Life has let us to know?
Where will they carry all the stolen wealth to? Shameless 'Big' Men!
now wind has opened the anus of the proud fowl
now we know that our bilonaires are filthy. Because of a decadent civil service iwaela is the gadfly who will clean the aegean stable called nigeria mike adenuga is a shamless and unpatriotic element whose msxim is end justifying the means. Jonathan must cooperate with iwaele, in order to bring to book thse caballed by adenuga.if ibori can be sent to jail why cant adenuga go to jail for monumental economic sabotage . Jonathan promise to open new refinery,roads and railwaylines is now a mirage because of the miscrants .jonahan has asked nigerians for sacrifice and understanding only for the vulture in adenuga et al to rock the boat. Sham bilonairs. Comedy bilonairs. These con men are brainless. Just fill a petrol import for with fake ship and get bilion dolar subsidy and you smile home to ogun as a billonair. Smart boy adenuga and his primitive acquisition of wealth . Adenuga has murderred sleep., to sleep no more.
I am just watching Nigerians
I am just watching Nigerians in their usual mode of pretence, platitude and righteous indignation and it makes me laugh. We have lived through decades of military dictatorship, with soldiers acting like some deity, we have had years of fraudsters becoming filty rich on the back of ordinary citizens, yet you come on to this forum full of pump and fire like we are living in a mature democracy.
Even some of you seem to think that we are still under a military dictatorship, where the head of the junta only has to say the fcuking word and it is law. For those of you who are acting with best intentions, I will say grow up and appreciate where we are as a nation, as for the others, go and have a ‘wonk’.
@Waahala Is Cheap
When you start a sentence with Dumbo, addressing the person of the President, it is clear and obvious that you are heading for the gutter. While you are wallowing in this soup, take time to think. When did this cabal start their oil fraud? Did you know anything about it previously? Who raised the alarm? Who tried to stop the subsidy regime? Talk is cheap; it is even cheaper to denigrate your betters. But heh, this is Nigeria and anything goes.
Would the Real Amos Please Sand Up
@Amos
The truth about the Nigerian situation is that the cabal still wields a lot of power and authority. This is why a fanatical Islamic organization [BH], are able to hold the whole nation to ransom. They engage in a face off with the elected President of the country and even have the temerity to instruct him to resign. In any progressive nation, all forces concerned would be united in support of the fight. But sadly, Nigerians are all too often in it for what they can get or simple base instinct of tribalism and nepotism.
We now have the best President of the modern era and the best minister of Finance Minister Nigeria has ever known. Instead of recognizing the peculiar position of the country in which these fraudsters have been getting away with it through a number of previous administrations; you are here talking nonsense about the GEJ and his administration.
Lazy Nija Billionaires
One of these days there would be bragging rights on which ethnic group produced the most millionaires.Please remember that some ethnic groups sweat to make it while YORUBA/HAUSA earn theirs by looting and stealing.
Fuel crisis
This is the time to support the govt.Nobody is greater than his country.These so called cabal should have thier licencies revoked . Enough is enough.
At least Mdm. has named some thieves...now, who acts?
Dumbo once told us he knows the sponsors of Boko Haram without naming them, Madame Dr. NOI has told us who scammed us by NAMES! Big difference! Her buck stops there. Though she is a 'double' Minister, I don't think one of those is Justice Minister! It is this corrupt Dumbo's adminstration that is shielding the oil thieves. Corruption is what's keeping Nigeria stagnant. The PDP is an evil cabal of corrupt thugs, and Dumbo is their leader, not 'apolitical' Dr. Iweala. In fact, it is only her ministry that has so far 'punish' co-conspirators in the oil scam. Whast about the Petroleum or other Ministries?
@ Sule Jambo : Well said. Respect!
Oil Cabal
All these have shown that FGN is beraved of ideas.You caught thief, under normal situation the next is to prosecute in the law court not in the media.Who are they deceiving?Just excuses for failure of all the promises for removal of subsidy.The truth is that GEJ,IWEALA and the rest have failed us.
Where To Nigeria?
While the cabal is in charge in Nigeria nothing seems to work. I am profoundly disappointed in the institutions of Law and Order. The police is riddled with corruption and extra-judicial activities. The prosecutors are for sell to the highest bidder and the Judges are either unsure of what they should be doing or flagrantly disregard their duty, for pecuniary reasons or instructions from the faceless power wielding cabal.
This, after 52 years after independence, suggests to me that we are getting no where fast. Our problem as a nation is rooted in tribalism and successive military governments where circles of friends held the nation to ransom. This has not allowed the necessary evolution of the institutions. Even now, when we see clear injustice, we automatically look at the man to the helm for redress. The institutions should be stronger. The question now is, how do we strengthen the institutions while providing stability, transparency and accountability?
e don teee
Bros, You can't eat your cake and have it ! Your people have long been settled with shekpe(LOCAL GIN) long ago. Edwin Clarke is aware, and until he open up truthly his agreement with the North during the civil war ! Good morning SS...
Cabalocracy!
According to Igodomigodo, Naija is under cabalocracy not democracy. The government should stop behaving like an impotent. They should start acting cos it is said that governance without force is but mere words!
@ MR. TOLD YOU, WHO TOLD YOU?
@ Mr. Toddyou, you said that SS people are not involved? WHERE IS CHIEF. DON OBOT ETIEBET OF TOP OIL & GAS FROM? Is he not from South South?
Was he not involved in the HALIBURTON BRIBE SCANDAL TOO?
Mr. Told you, know that a thief is always a thief and they can come from anywhere!
The fact is that we the 99% will one day hold them accountable. And it will be so!
scam
i think if you steal from the govt you should be band from doing any kind of bussiness with the nigeria govt thats easy. just do that GEJ .
government irresponsibility
When this govt removed fuel subsidy in january this year, they promised us that, that singular act will turn arround nigerian economy and put it on a fast lane by encouraging those private investors that were given licenses to establish refineries to take off on the project, they also made so many other promises, same finance minister and cbn gov were the ones making the explanations, eight months after we have had nothin on the private refineries nor govt onwed ones, one of the newspapers had it that we now import fuel from benin republic, now same finance mininster and very soon cbn gov will join him in telling us another bullshit, I think our rulers not keep diary of what they said before to reconcile it with what they need to say in future, governace in nigeria actually need a seperate definition from acceptable one
thats Nigeria for you
Its country where the only rich are at the expence of others.
Please visit www.afrisho.com and encourage our Nigerian brothers
Yoruba and Hausa Fulani are thieves
@Bassey, the problem with Naija is beyond tribalism or religious affiliation. Its a story of a cabal that always take advantage of our differences and enrich themselves to the extend of making the Forbe's list.We've to wake up and face the challenges like the Egyptians. Who owns Capital Oil, Integrated Oil? Are they Hausa/Fulani or Yoruba? Did you think MRS is own 100% by Sayyu? Who are his business associates and where are they from? Who were behind the Malabo Oil deal. What of the Peter Odili, James Ibori scandals etc. Did you think BH is perpetrated and sustained by the Northerners. So the problem is all about power struggle between the elites and at the detriment of the Nigerian masses. PDP and its members have to convince Nigerians that what has been happening in the country is not strategic plan. But if you and your like continue to remain deft and dumb then am sorry for you. And you are free to break away from the rest of us. Who cares.
who is in charge
I cannot understand who is actually rulling 9ja whether it is GEJ or CABAL or how do we justify a minister begging the cabal to come back and continue with their fraud galore, if this govt truly have a vision they should be telling us when 3or4 refinery will be up and running in 9ja rather than keep paying all this money to few individual.I live in London where ther is no oil drilling yet this city boast of 2or 3 refinery.
May God save 9ja from tippin point.
The huge question! WHERE DO
The huge question!
WHERE DO WE GO FROM HERE? WHO SAY HE/SHE DON'T KNOW WHERE THE PROBLEMs IS COMING FROM AND WHERE WE ARE GOING. It makes one to go back to look into why the in-fighting among our leaders both mine and yours irrespective of our tribes far back 1960. Check the date of the qoutation. It was ELEVEN days after Nigeria's Independence(October 1st, 1960). However, its just a matter of the getting to know what we are for each other. Can we just see why civil war, coup, intra/inter-tribal fighting, inter-religious war, genocidal war, nepotism etc. has been on in OUR beloved nation Nigeria. We need a fresh breath in this country. God bless Nigeria!
Genesis of Naija Problems
Lets ponder on this:
'The new nation called Nigeria should be an estate of our great grand father Uthman Dan Fodio. We must ruthlessly prevent the change of power. We must use minorities in the north as willing tools and the south as a conquered territory and never allow them to rule over us and never allow them to have control of their future'... By Ahmadu Bello, Sarduana of Sokoto.
Published by The Parrot Newspaper of October 1960. The above piece was recalled by Nigerian Tribune Newspaper, 13th November 2002.
It came up while the Plateau crisis raged on. Two eminent men: Da Yohanna Nyam Dang(Chairman Berom, a tribe in Plateau State. Board of Trustees) and Da Stephen Nuhu Gyang re-echoed it on page 14 of The Nation Newspaper, July 23rd, 2012.
Oil fraud
My own is simple n straightforward let give these pple summary dismissal b4 2015
NOI should stop politics, prosecute in court, not in the media !
Madam Iweala and Moron Jonathan should prosecute in a court of law NOT on pages on newspapers.
EFCC and the courts jail common thieves while their big men sponsors get away scot free. If Adenuga and others are accused of economic sabotage, take them to court, telling us is playing politics.
Shineyoureyenigeria PAR2
To find the root and solution to this oil stealing follow the money trail all the way to Europe to the United states.Proof(who is been helping Iran sell it,s oil).
conclusion: Adenuga is making peanuts,Finance Minister is a pawn in the game(she does not even know),the people are born to surfer,me abi whislteblower/analyst.
Prediction(SEPT):US economy will increase by another .02%,cost of petrol will be at an average of $3.92.Therefor fuel scarcity in Nigeria will increase(nation wild),insurgent will increase,more investors will come in(Data available at world Bank)
Shineyoureyenigeria PART 1
All this stealing is been done in conjunction by WORLD BANK. Check this out:anytime the U.S economy or china economy improves by.02%,the cost of petrol(gas)in U.S goes up/above $3.55/gallon.The oil Marketers will not import petrol b/c there margin of profit becomes small but still go ahead and make there claim with the government.Mrs Ngozi Okonjo-Iweala cannot solve this problem even if the oil subsidy is remove.The money this marketer are making is peanuts compare to what the World bank,Hedge funds will make.This is the new world order we do not know.Disaster brings in money,war brings in money, chaos also brings in money(collateral damage is minimal).
Dangote is involved along withDantata
You are right that this article does not mention Dangote, but you are wrong if you claim that he is not involved. He has been mentioned, in some other articles by a few courageous journalist. You will eventually know the truth if they ever prosecute these thieves. The threat by exposed crooks to expose others who are being shielded by the government, is causing concerns and delay with prosecution. DANGOTE is fun of these type of things. He gives PDP N1.0Bn cash during election and gets N30.0Bn import duty waver later. Nigeria loses N30.00 just for PDP to gain N1.0Bn.
time for the Ijaws to secede from 9ja-wasting time with each oth
These are the national thieves who use the oil revenue they steal from the South South to sponsor smear campaing against the people of the south south zone. Call them unprintable names while they steal their oil resources in the name of one 9ja. Meanwhile the fools in the SS think these crooks will ever give jonathan free hand to operate. How many Ijaws do we have in the oil import scam business. Go through the list and seee if you will see one human from the village of the president. None was thought to have risen to the level of acceptance by the maharajas-in 9ja. So Jona must be vilified-while they praise the vultures who cloned these thieves-if obj, Buhari, IBB, and abacha had any love 4 d oil bearing communities which has been feeding 9ja 4 over 52 yrs-they would have fought to abrogate the land use decree-instead they hire boko haram to kill in the name of Allah.
Everyperson de thief.
My Brother, they are stealing to finance our brother. Their hand may be in the cookie jar but our brothers mouth is chopping the loot. They finance our brother's election. In Nigeria stealing is one of our common culture. Every community in Nigeria has some thieves, many of whom are even envied, never shamed.
NGOZI is a criminal herself
This is nonsense, for Ngozi to be complaining. Why cant the FGN import fuel. They are hiding other fuel subsidy crooks who financed PDP elections, that is why they are complaining instead of importing fuel themselves. The importers know that they will not import fuel themselves, that is why the importers can bluff like they are doing. DID NGOZI THREATEN TO IMPORT FUEL? WHY NOT? DID SHE THREATEN TO DELIST THE IMPORTERS?. WHAT THE FINANCE MINISTER SHOULD SAY IS THAT THE FGN WILL BE IMPORTING FUEL DIRECTLY AND SAVE $4.0Bn ANNUALLY. OLE-IN-GOVERNMENT VS OLE- OUTSIDE-GOVERNMENT.

