The management of
Zenon petroleum and Gas Limited has strongly criticized the House of
Representatives Ad-hoc committee on subsidy probe saying allegations against
their company are not only spurious but “without proper verification of
documents submitted to aid their enquiry”
The company’s
rebuttal was contained in a disclaimer issued by the management of the company,
a copy of which was made available to African Examiner.
Recall that the
house had earlier cleared Zenon oil in their subsidy probe report but made a
u-turn last Friday to re-list the company as one of the companies that obtained
forex but failed to import fuel.
During the
session, the House sacked the chairman of the Ad Hoc committee of the subsidy
probe, Farouk
Lawan over
allegation of $3 million he allegedly requested from Mr. Femi Otedola in order
to doctor the
subsidy report to
favor his company, Zenon Oil.
As it now stands
in the report, the House claims Zenon petroleum
did not utilize the sum of $232,975,385.13 forex collected from the government
for the purpose of importing fuel.
However, Zenon’s
management said the House allegation was totally false.
Their statement
partly reads: “To put the facts in proper perspective, we wish to reiterate as
follows:
“Zenon petroleum
and Gas Limited imported and supplied premium motor spirit (PMS) in 2010.
“In fulfilling its
supply obligations, Zenon petroleum and Gas Limited obtained the required DPR
import permits, obtained and filled form MS which were duly certified by the
FGN pre-shipment inspection agencies, issued letter of credit from first class
Nigerians financial institutions (namely GTB, UBA PLC, Access Bank PLC, and
FCMB PLC) to its offshore suppliers for a total value of $372, 207, 990 as
opposed to the sum of $232,975,385.13 presented in their report.
"Zenon
petroleum and Gas Limited discharged the cargo under the supervision of
regulatory agencies
including the
PPRA, DPR, and witnesses from internationally recognized and certified
inspectors, SGS
Limited and
received funds in Naira which were used, to bid for foreign exchange with the
CBN through
the
afore-mentioned banks, using all the requisite exchange control documentation.
These were all
approved by the
CBN. Some of these documents have been attached for reference purpose.
We have not
diverted or left unutilized forex collected for the importation of petroleum
products as
portrayed in the
publications and we have documentation and records to substantiate our
position.
“The allegation
and findings of the ad hoc committee of the House of Representatives against
our
company are
spurious and a complete falsehood arrived at by the house committee without
proper
verification of
document submitted to aid their enquiry.
“We accordingly
refute the allegations and findings contained in these publications and hereby
reserve
our right to take
necessary steps to protect our corporate image and integrity in addition to
seeking
legal redress for
the incalculable damage that has been caused to our reputation by reason of the
publication."
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