The Petroleum Equalization Fund (Management) Board has sanctioned 25 oil marketers for various offences with the aim of defrauding the Federal Government.
The offences ranged from changing of truck heads without getting clearance from the agency, tampering of tags affixed on trucks as well as presentation of trucks with water (instead of petrol) at receiving depots by these marketers.
While confirming the sanctions to our reporter, the Fund’s General Manager (Corporate Services) Dr. Goddy Nnadi, said the agency’s hammer had also fallen on marketers selling petroleum products above government approved price.
“We have cancelled their transactions and they have to pay the penalties,” he said but didn’t give the names of these marketers.
Nnadi said over five members of staff of the Fund who aided the marketers commit the frauds were now undergoing disciplinary processes.
“One of them has been sacked while five others were suspended. Their cases are before the Board,” he added.
He said that the agency would in a matter of weeks commence expanded sensitization meetings with its key stakeholders including the Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Product Marketers Association (DAPPMA), Independent Petroleum Marketers Association of Nigeria (IPMAN).
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