The managing director of ipman
investment limited, mr tunji adeniji, has exonerated its company over reports
of alleged n10.9 billion subsidy scam credited to a factional president of
ipman, elder chinedu okoronkwo.
in a statement made available to vanguard
after the ipman nec meeting in abuja, the allegation was described as false
allegations that its board of trustees chairman, alhaji aminu abdulkadir
embezzled the proceeds of petroleum subsidy claim of the association amounting
to over n10.9 billion.
he said that the allegation, which
was recently attributed to okoronkwo, one of its factional leaders, was untrue
insisting that the accused was not guilty of such crime, adding that he was
committed to the ipman investment limited.
he added that the allegation was the
handiwork of elements that were unhappy with the current peaceful state of the
association.
he, however challenged anyone with evidence of
wrong doing in ipman to come forward with such information for appropriate
actions, insisting that there was nothing like a n10 billion subsidy claims
adeniji stated that the company is legally instituted with credible members
managing the company which the accuser has testified to the credibility of the
business group. he said that all permits given to ipman investment limited by
the petroleum products pricing and regulatory agency, pppra, were duly executed
and the trucks certified. according to him, okoronkwo ought to know the bounds
of free speech and where defamation starts.
“it is hoped that he will click his tail
in-between his legs and will correct his utterances for, as the holy book puts
it, people perish for lack of knowledge and unfortunately, the accuser has
shown that he is one such ignorant persons.
“the company therefore requires an express
apology from him for his acts of gross misrepresentation of facts or face
appropriate legal actions,’’ he added. he further stated that the company had a
certified permit in the country and engages in the importation of refined
petroleum products under the petroleum support fund, psf, scheme of the
country.
“the petroleum support fund, psf, scheme was
set up to enable adequate payment of subsidy to marketers through the petroleum
produce pricing and registry agency, pppra, the debt management office, dmo and
the central bank of nigeria, cbn, by the federal government. “subsidy payment
is a cost recovery system whereby marketers were paid the differential between
the total cost of import and the regulated price of the government which could
be over-recovery or under recovery as the case may be.
“elder chinedu okoronkwo’s shout on
subsidy scam in ipman investment limited was mischievous and a
misrepresentation of facts, for he lacks knowledge of what subsidy payment is
all about,’’ the statement added. he argued that
“it is regrettable for an individual of his
calibre to be talking of subsidy payment executed verified, probed in 2011 by
the economic and financial commission, efcc, the national assembly and
aig-imokuede committee set up by the federal government where the company was
duly cleared. “it is a shame that the accuser started howling about missing
n10.9 billion subsidy claim without getting his facts correctly and
cross-checking same.
it is very important to put the
record straight that other agencies of the federal government involved in the
subsidy scheme including the department of petroleum resources, dpr, petroleum
equalization fund, pef, the debt management office and the central bank of
nigeria, cbn, did not find the company involved or participated in any criminal
or fraudulent act with respect to subsidy claims.
” it will be recalled that the
okoronkwo-led faction of ipman had reportedly alleged that a financial fraud
was committed by the other faction and that n10.9 billion was paid into the
company by the government as subsidy claim.
credit:vanguard
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