Efcc set to Arrest Subsidy Thieves Gej Commends Aig Imokhuede’s Panel

The powerful oil marketers in the country who have been indicted in the report of the House of Reps Ad-Hoc Committee probe panel on the
fuel subsidy management are  fighting very hard to discredit the report. After falling into a USD 3 Million bribe trap which has messed up his
image, Hon. Farouk Lawan , the suspended Chairman of the House of Reps Ad-Hoc Committee probe panel left a room for observers and some industry players to question the credibility of the probe exercise. President Jonathan’s desire to clean up the oil sector and expose the fraudsters in the industry made him to set up a Presidential Committee to verify and reconcile petroleum subsidy payments. The presidential committee is headed by the Group Managing Director of Access Bank Plc, Mr Aigboje Aig – Imoukhuede.

According to information reaching us, Mr Imoukhuede submitted his findings to President Goodluck Jonathan few days ago. Our sources in the Presidency told us that the outcome of the report is mind boggling as it exposed a lot of powerful and influential oil businessmen in the country that collected millions of dollars to import petroleum products without delivering anything. The source revealed that the President immediately directed the Attorney General of the Federation, Muhammed Adoke and the Acting Chairman of the Economic Crimes and Financial Commission (EFCC) to arrest and prosecute the oil subsidy rogues. Emboldened by the President’s directive, on Sunday, July 8, 2012, the Anthoney General told the media that the oil subsidy thieves will face the full wrath of the law.

Investigations however shows that the members of the oil subsidy cabal are now jittery, as we gathered that some of them are planning to flee
the country. However ,eagle eye operatives of the EFCC are said to be monitoring the oil thieves indicted in the Aig – Imoukhuede’s report and will soon be clamped into detention centers. It is said oil subsidy cabal will not surrender easily and they have plotted to fight back tooth and nail. The strategy they employed is to discredit  Aig – Imoukhuede’s report by fabricating and concocting stories for the media, in other to sway public opinion in their favor. Three days ago, the media, especially the on-line media and some social networking sites reported that Mr Aig – Imoukhuede’s owns a company called Ice Energy and Petroleum Trading Company Limited with its office at Lake Chad Crescent, Maitama, Abuja. It was alleged that Ice Energy Petroleum Trading Company Limited collected USD2, 131, 166.32 (N345. 3 m) in 2011 and did not import petroleum products. The news took many by surprise and wondered why Aig – Imoukhuede could be allowed to head a Presidential Committee when ‘his own oil company’ is equally ‘guilty’ of the same offence he is expected to make recommendations.

Recently  facts and documents has been released  showing that the Access Bank MD has nothing to do with the oil company and that the oil company was even wrongly included in the Farouk Lawan’s report without any just cause in the first instance. The Corporate Affairs Commission documents show that Ice Energy and Petroleum Trading Company is owned by these individuals; Mr Iroche Chucks (5, 000, 000 shares), Mr Aig – Imoukhuede Aieboubioise (3, 000, 000 shares) and Aikhinbare Sam (1, 000, 000 shares). However, Aig – Imoukhuede Aieboubioise has been reported to be the younger brother of the Access Bank MD. Even as it stands that Aigboje’s younger brother is one of the owners of the oil company, documents obtained have established that Ice Energy was actually given the contract to import petroleum products worth N345. 5million naira, but the company could not meet up with the deadline given it by the Petroleum Products Pricing and Regulatory Agency (PPPRA) and therefore could not import the products and thus,was not paid a kobo. The management of the Company wrote a protest letter to the Farouk Lawan’s committee where it stated that, “……… due to circumstances beyond our control we were unable to deliver the said cargo in Q3 2011, we applied for an extension from PPRA, which was declined. Subsequently, we went ahead to CANCEL our Letters of Credit and form M. We also did not qualify or collect any subsidy under the schemes”.

From the revelations, it was discovered that the smear campaign against Aigboje is the handiwork of the powerful cabal trying  to rubbish the Presidential Committee’s report and escape  justice. Our source in Aso Rock has informed us that President Jonathan is bent on punishing the oil thieves who will be arrested any moment from now.

Naija Hottestgist will keep you posted.