The Nation Newspaper

Tag: marketers

  • Fuel scarcity: Marketers to commence distribution nationwide

    Fuel scarcity: Marketers to commence distribution nationwide

    Oil marketers in Lagos State on Tuesday said the distribution of imported petrol to filing stations has commenced nationwide.

    The marketers in separate interviews with the News Agency of Nigeria (NAN) in Lagos disclosed that vessels laden with imported petroleum products had berth at the high sea.

    One of the major marketers told NAN anonymously that the delay by the Petroleum Products Pricing Regulatory Agency (PPPRA) in approving the first quarter fuel allocation to marketers, was responsible for scarcity.

    He added that ships laden with petrol had started to berth since the early hours of Tuesday on the high sea.

    The marketer said they would immediately begin the discharge the product into system 2B for channelling to all NNPC depots.

    He gave Nigerians the assurance that the observed queues at filling stations would disappear by Thursday “when all stations would have received the product before the close of work on Wednesday.

    “The queues in some filling stations in some states will soon disappear as the Federal Government has approved the importation of petroleum products.

    “Petroleum vessels have started to berth at the high sea to discharge the product into the pipeline to depots.

    “We are assuring Nigerians that the ongoing scarcity and queues will soon disappear,’’ he said.

    The marketer advised motorists to remain calm and avoid panic-buying.

    “Since the importation approval has been signed, Nigerians should expect prompt and effective distribution of petroleum products in all filling stations across the country,’’ the marketers added.

    An independent marketer, who exonerated marketers of any blame, commended the Federal Government for its intervention in the clearing processes.

    He said that the clearing process had become cumbersome and caused the experienced delay of ships in the high sea.

    “I totally disagree with the insinuations that marketers are the ones hoarding the product at the filling stations.

    “The real issue is in the high sea because to what extent can a marketer hoard the product in the filling station?

    “In the high sea, we have 42 days sufficiency, so, how can a marketer hoard?

    “The situation we have today has to do with logistics. That is the operations at the jetties, including the shore tanks.

    “I am talking about the little problem we had one week ago which was the contraction in supply,’’ he said.

    However, the management of Nigerian National Petroleum Corporation (NNPC) on Monday injected additional three million litres of petrol into Lagos to ease scarcity.

    The Acting Group General Manager, Public Affairs Division of the Corporation, Dr Omar Ibrahim, said that extra 33 million litres of petrol would be supplied to end the artificially induced scarcity.

    “While we intensify direct monitoring of fuel stations across Lagos and its environs, we are providing extra volume of the product to eliminate the noticeable queues arising from the induced scarcity,’’ Ibrahim said.

    NNPC has appealed to marketers and members of the public to refrain from hoarding and panic-buying.

  • Afocandy blasts movie marketers

    Afocandy blasts movie marketers

    POPULAR porn actress, Afrocandy, is presently angry with movie marketers in Nigeria.

    Her anger stems from what she described as the poor handling of her latest movie, Destructive Instinct, which she had thought would be a hot cake in the market.

    According to her, greedy marketers are selling the movie at cutthroat prices. She said, “Why are Nigerian Marketers too greedy? Guys, please do not buy the movie, Destructive Instinct, if the price is more than N300 because I did not discuss that with the marketers. They just wanna rip where they did not sow and it’s not fair. How can they be selling my movie for N500, N700 or N1000? I made sure it would be cheap and available for all my fans in Nigeria to be able to afford it; so, why the hike in price?

    “Out of greed, they cut my movie in half and put adverts that I didn’t authorize with intent to release the other half as part 3 & 4 because the demand for the movie is too high.

    “According to some marketers, ‘Destructive Instinct is the fastest selling movie now, so you can see the reason for the hike in price. Anyway, I have instructed them to put out the rest of the movie intact.”

  • Marketers to support sports develoment

    Marketers to support sports develoment

    Market associations in Lagos State have pledged to partner the Lagos State government in the development of sports infrastructure in the state.

     The Iyaloja-General of Lagos State, Mrs. Folashade Tinubu-Ojo, who spoke on behalf of the marketers, stated that it was necessary for the marketers as parents to assist the government in raising funds to develop sporting facilities in the state for the benefit of their children and wards who could develop their skills and talents through sports.

    Mrs Tinubu-Ojo made this pledge in Lgoas during an awareness visit to her by some board members of the Lagos State Sports Endowment Fund (LSSEF) comprising the Chairman, Real Admiral Anthony Okanlawon-Oni (rtd); Executive Secretary, Mr. Tunde Bank-Anthony; Mr. Lateef Bashorun, a director in the Lagos State Ministry of Local Government and Chiefstancy Affairs; and Chief Emeka Dikke, former Chairman of the Alaba International Market Association.

     The Iyaloja-General promised to mobilize the various groups in the state to raise funds to assist the LSSEF in their effort towards sports development, as a way of giving back to the community.

     Earlier, Real Admiral Okanlawon-Oni (rtd), while presenting a working document on the fund-raising to the Iyaloja, had explained that the funds being sought would be spent on providing sporting facilities for the development of youths in the state.

     Also speaking during the visit, Chief Dikke said the market associations in Lagos State would utilize their potent force as a group to contribute towards the development of sporting infrastructure in Lagos State.

  • Trial of oil marketers stalled

    The trial of two oil marketers, Oluwaseun Ogunbambo and Habila Theck, over alleged N979.6million fuel subsidy fraud, could not go on as scheduled yesterday owing to the absence of their counsel.

    Ogunbambo and Theck are facing a six-count charge of conspiracy, obtaining money by false pretences, forgery and use of forged documents.

    They were arraigned with their company, Fargo Energy Limited by the Economic and Financial Crimes Commission (EFCC) before Justice Adeniyi Onigbanjo of a Lagos High Court, Ikeja.

    At the resumed trial of the defendants yesterday, EFCC’s counsel, Mr. Francis Usani, told the court that the date was fixed for the hearing of the two applications filed by Ogunbambo.

    He said counsel to the defendants, Messrs Olisa Agbakoba and Adebayo Adenipekun, both Senior Advocates of Nigeria (SANs), were not in court.

    Usani said no explanation was given for their absence, adding that he would have used that as a ground to ask the court to strike out the applications.

    Ogunbambo at the last hearing filed two applications in which he sought court’s order to quash the charges brought against him and others by the EFCC.

    The application was filed on his behalf by the former President of the Nigerian Bar Association (NBA), Mr. Olisa Agbakoba (SAN), who is now the lead defence team of Ogunbambo and other defendants.

    Agbakoba also raised three major constitutional and jurisdictional issues against the EFCC upon which he predicated the request for a court order to quash the charges preferred against his clients.

    The first issue touches on what is referred to as ‘Miranda Rights’ in the legal circle.

    Agbakoba argued that ‘Miranda Rights’ were not administered to the defendants by the EFCC before they were arraigned and as spelt out in the constitution.

    He explained that ‘Miranda Rights’ are secured rights of persons arrested or detained, to have legal representation immediately on arrest and before making any statement. He said the rights guarantee

    voluntariness of statements.

    These rights, the former NBA president argued, are contained in Section 35(2) of the Constitution and Section 3(2) & (3) of the Administration of Criminal Justice Law of Lagos State and the purpose of ‘Miranda

    Rights’ is to prevent coercive and involuntary extraction of statements

    by law enforcement agents, a practice widely acknowledged in Nigeria.

    Agbakoba also in the application challenged the competence of a federal agency, namely the EFCC, to prosecute federal offences in a state High Court in particular, and whether the Lagos High Court has jurisdiction to try offences relating to the revenue of the Federal Government. That is, fuel subsidy.

    He further challenged the legislative and judicial competence relating

    to the trial of the defendants under the Advance Fee and other Fraud

    Related Offences Act.

    Usani, however, told the court that the EFCC had filed its counter-affidavits to the applications seeking to quash the charge against the defendants and the other asking for a vacation of the forfeiture order placed on Ogunbambo’s assets.

    Justice Onigbanjo adjourned the matter till June 25 for hearing of the applications.

     

     

     

  • Three marketers re-arraigned

    Three marketers re-arraigned

    The Economic and Financial Crimes Commission (EFCC) yesterday re-arraigned before an Ikeja High Court, Lagos, three oil marketers for allegedly obtaining fraudulently, N789.6million from the Federal Government.

    Adamu Maula, George Ogbonna and Emmanuel Morah, the suspects, were brought before Justice Lateefat Okunnu on an eight-count charge of conspiracy, obtaining money under false pretence, forgery and altering.

    The three men, who were on October 5, last year arraigned before Justice Habeeb Abiru with their companies-Downstream Energy Sources Limited and Rocky Energy Limited, pleaded not guilty.

    Their re-arraignment followed the elevation of Abiru to the Court of Appeal.

    EFCC counsel, Rotimi Jacobs (SAN), at the re-arraignment, told the court of the development in the case.

    He told the court that the defendants, between March 2011 and January 2012 in Lagos, fraudulently obtained N789.6 million from the Federal Government.

    Jacobs said the men forged documents, including a bill of lading, certificate of quantity, certificate of origin and cargo manifest, which they used to facilitate the fraud.

    He said the defendants obtained the money from the Petroleum Support Fund for a purported importation of 14.2 million litres of Premium Motor Spirit (PMS) from Europe.

    The alleged offences, Jacobs said, contravened sections 1(1)(2)(3) and 8 of the Advanced Fee Fraud and Other Related Offences Act, Laws of the Federation of Nigeria 2006, as well as sections 363 and 364 of the Criminal Code, Laws of Lagos 2003.

    She adjourned the matter till May 8 for trial.

  • Nipco rewards loyal marketers

    Nipco Plc, an integrated downstream operator, appreciated its customers for their patronage and delivering quality service, particularly in the dispensing of petroleum products to Nigerians in all parts of the country.

    The event, which held at the company’s terminal in Lagos, was to recognise and honour outstanding marketers in which the overall best marketer for last year, went to Tamal Petroleum Nigeria Limited, based in Katsina State.

    The Managing Director of the company, Alhaji Muhammadu Usman Sarki, received the award on behalf of the company. He expressed appreciation for the honour and pledged to consolidate on the company’s business relationship with Nipco by pulling more volumes this year.

    Presenting the award to the recipient on behalf of Nipco, the Executive Director, Finance, Mr Ramesh Virwani, said the award was in recognition of the outstanding performance of the marketing company in the distribution of petroleum products to end-users through its outlets.

    Virwani assured the marketing companies doing business with Nipco of its excellent service delivery, which he added, is beneficial to both parties and in the interest of the sector.

     

     

     

     

     

     

     

  • Subsidy scam: EFCC, marketers fail to agree on ‘amicable’ resolution

    Subsidy scam: EFCC, marketers fail to agree on ‘amicable’ resolution

    Two oil marketers indicted for their alleged involvement in petrol subsidy fraud have failed in their bid for out of court settlement with the Economic and Financial Crimes Commission.

    The oil marketers, Aro Sunday Bamidele and Abiodun Kayode Bankole had at the last sitting told the court that they were already negotiating with the EFCC regarding the N1.3 billion fuel subsidy charge preferred against them by the commission.

    But at the resumed hearing of the matter on Monday before Justice Lateefa Okunnu of a Lagos High court, Ikeja, the EFCC counsel, Tayo Olukotun informed the court that the negotiation process had failed.

    “My Lord, I wish to inform the court that negotiation between the parties has broken down. We were informed on Wednesday, January 24 of this development.

    “The defendants have filed a Notice of Preliminary Objection, we would like to respond to this and would be applying for a short time to respond,” Olukotun told the court.

    The oil marketers were arraigned alongside their company, A.B.S Investment Company Limited on October 5 last year.

    They are facing an 18- count charge bordering on conspiracy, obtaining money by false pretence, forgery and altering of documents.

    The EFCC had alleged that the defendants fraudulently obtained N1.3 billion from the Federal Government for the purported importation of 30 million litres of Premium Motor Spirit (PMS).

     

  • Fed Govt to pay 23 oil marketers N94b, says Okonjo-Iweala

    Fed Govt to pay 23 oil marketers N94b, says Okonjo-Iweala

    TWENTY-THREE oil marketers are to be paid N94 billion, the Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, said yesterday. The cash is part of the N161 billion approved by the National Assembly.

    The 23 oil marketers will be paid ”in the next few days.”

    Addressing journalists in Abuja yesterday, Mrs. Okonjo-Iweala, said the government was “committed to paying all companies which deserve to get subsidy payments just as we will not pay undeserving firms.”

    For the balance however, the government is “waiting for the others to come and complete their paper work to complete their balance. That is the mandate we have from the President.” Dr Okonjo-Iweala said.

    She said payment was being carried out according to transactions, so some marketers (23) that have cleared their paper work on some of their transactions would be paid from the N94 billion.

    However, Mrs Okonjo-Iweala noted that they may come back again with additional transactions, “but as of now, 23 marketers have done their paper work.They may still have outstanding claims because we do them in batches through the Petroleum Products Pricing and Regulatory Agency (PPPRA) and the Debt Management Office (DMO).

    “I have a list of 27 marketers for the remainder of the money, but some of them have already featured under this 23 and they may have to come back,” she said.

    Mrs. Okonjo-Iweala stated that her ministry has made the N161.6 billion supplementary budget for subsidy payments which has been approved by the National Assembly and made available to the Central Bank of Nigeria since December 31, 2012, adding that the payments “are presently going through the CBN’s processes which include the conversion of the dollar equivalent from the foreign Excess Crude Account to the domestic Excess Crude Account, and that will be concluded soon.

    “We have to authenticate the amount and this process normally takes five days and a week between the CBN and the ministry.The Central Bank is very strict by trying to have all the documentation,” she added.

    “The process is on, the money has been released and is being converted into naira by the CBN and I don’t think there is any issue with this.”

    At present, the money, she explained,“is being credited to the account now by the Accountant- General of the Federation. The conversion is being done and marketers who said they have not been able to access should go now to get their money. It is not something that takes months,” Mrs Okonjo-Iweala said.

     

  • EFCC re-arraigns two oil marketers

    The Economic and Financial Crimes Commission (EFCC) yesterday re-arraigned two oil marketers at a Lagos High Court, Ikeja, on an amended charge of alleged N976.6 million fuel subsidy fraud.

    Oluwaseun Ogunbambo and Habila Theck were re-arraigned with their company, Fargo Petroleum and Gas Limited, before Justice Adeniyi Onigbanjo.

    They are facing a 10-count charge of conspiracy, obtaining money by false pretence, forgery, uttering and use of forged documents.

    EFCC’s counsel Francis Usani told the court that the defendants allegedly conspired with Olugbenga Adesanya (still at large) to fraudulently obtain N976.6 million from the Federal Government’s fuel subsidy fund.

    Usani alleged that they obtained the money as payments for subsidy from the Petroleum Support Fund for the purported importation of 13.6 million litres of Premium Motor Spirit (PMS).

    The counsel said the PMS was purportedly purchased from Seatac Petroleum Limited and imported into Nigeria through MT Diplomat Ex MT Milleura.

    They were further alleged to have forged a bill of lading and other documents to facilitate the fraud.

    He said the offences contravened Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006.

    The defendants pleaded not guilty.

    Justice Onigbanjo ordered that they should continue to enjoy the bail granted them after their initial arraignment on July 30.

    He adjourned the matter till tomorrow.

     

  • N400b subsidy cash: Fed Govt asks indicted oil marketers to face trial

    N400b subsidy cash: Fed Govt asks indicted oil marketers to face trial

    The Federal Government has urged those indicted over the diversion of over N400 billion fuel subsidy to face their trial rather than resort to propaganda.

    The government said the marketers were using propaganda to tarnish the report of the Aig-Imoukhuede Committee and investigations by the Economic and Financial Crimes Commission(EFCC) and the Special Fraud Unit (SFU) of the Nigeria Police.

    A police officer in SFU said it was amazing to read the propaganda of some of the affected oil marketers who were speechless when confronted with the findings of the SFU on their alleged involvement in the fuel subsidy scam.

    According to findings from a senior government official, the presidency was shocked that some of the indicted oil marketers have been funding covert campaigns to rubbish the report of the Aig-Imoukhuede Committee and investigations by the EFCC and the SFU of the Nigeria Police.

    It was learnt that security reports also indicated that some of the marketers had set aside seed funds to finance a vicious campaign to prove their innocence and stampede the government to discontinue their trial.

    The government official said: “The probe of fuel subsidy scam was diligently conducted and we are confident that most of those affected have cases to answer.

    “Instead of resorting to propaganda, those indicted should go to court to clear their names.

    “We will not waiver in our commitment to ensure justice and recover looted public funds. The battle line is drawn. We will not bow to blackmail at all.

    “They had every opportunity to present their so-called fact-sheets to the EFCC, SFU and Presidential Committee.”

    A source in the SFU at the Force Headquarters, who was involved in the investigation of the scandal, said: “When some of these suspects were confronted with the findings of the police on the fuel subsidy scam, they were dumbfounded. They were shocked that we uncovered their tracks.

    “They were unable to defend the allegations levelled against them in the documents available to the police authorities.

    “They manipulated shipment records through which the nation was ripped off billions of naira.

    “When SFU investigators asked a notable oil baron among them questions about more than N9 billion traced to his firm, he did not provide any evidence to substantiate his innocence.

    “The same man’s company collected subsidy payments without proof of existence of the mother vessel bill of lading and where the products were discharged.

    “When it became clear that the evidence was too much, the man just kept quiet.

    “That man failed to defend the many allegations contained in the charge sheet. We are shocked he is now defending himself through sheer propaganda. We have done our part; it is left to the court to take a decision.”