Friday, 14 July 2017

Ifeanyi Ubah accused NNPC of owing his company N16 billion

The administrator of Capital Oil Ifeanyi Ubah has blamed the Nigerian National Petroleum Corporation (NNPC) of owing his organization N16 billion. 

Ubah while clarifying the part of his organization in an asserted vanishing of 82 million metric liters of Petrol having a place with NNPC at the Lower House said the partnership owed Capital Oil N16 billion. 

General society hearing which was sorted out by the board on oil downstream of the House of Representatives was held in Abuja. 

Ubah additionally blamed the NNPC for making a huge deal about the issue encompassing the vanishing of the oil based commodities.

He stated: "The agreement which is the thing that we work with NNPC sets us in a place of a stock administrator which is to some degree the vessel much the same as an oil bank." "This takes into consideration coming in and stacking out of items inasmuch as we guarantee that all gatherings having items in our capacity at last get their aggregate stock.

"NNPC claimed that we owe N11 billion however neglected to uncover that they owe us N16 billion with a key segment of the obligation crossing more than two years." 

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