• Thursday, July 18, 2024
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NNPCL refutes missing N20bn allegations

NETCO posts 137% increase in operating profit

The Nigerian National Petroleum Company Limited (NNPCL) has refuted allegations making the rounds regarding theft and paying ghost consultants by the company.

NNPCL was accused of paying the sum of N20 billion to ghost consultants and was also accused of stealing multi-billion naira tax due to the Ogun State Government.

The company in a statement issued on Monday stated that as a responsible corporate organisation, it does not have or deal with ghost consultants.

“At NNPC Ltd, the process of engaging consultants whenever the need arises is clear and verifiable and follow global best practices,” the company said in a statement. “It is therefore unfortunate that for whatever reason, the said online platform would make such a grievous allegation, mindless of the consequences of such actions, The claim of a missing N20bn is absolutely false and baseless.

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It therefore demanded that Sahara Reporters — who initially made the allegations in its publication — retracts the said publication immediately adding that for future publications, its facts must be verified before going to press.

Addressing allegations related to Ogun State Government claiming a back duty tax liability of about N18 billion, against an NNPC subsidiary, the Petroleum Products Marketing Company (PPMC) Ltd.

“For clarity, PPMC had objected and challenged the claim through its Tax Consultant. Consequently, the Ogun State Government took the matter to court which is not unusual in business circles, The matter is currently before the court and NNPC Ltd will prove its case accordingly,” it said.

NNPC Ltd reiterated that the said online publication must be mindful of the consequences of its actions before taking them, noting that the matter is already in court.