Ifeanyi Uba, Managing Director of Capital Oil on Thursday formally cleared air on the alleged N11 billion owed by Nigerian National Petroleum Corporation (NNPC) as well as N16 billion spanning over two years.
Uba who appeared before the House Committee on Petroleum Resources (Downstream) during the probe of N11 billion allegedly owed NNPC, denied media reports on oversea travel and social functions, disclosed that he has not granted any interview since his release from the Department of State Security (DSS) custody two weeks ago.
Breakdown of the money owed by Capital Oil showed that: non-payment of N3.146 billion for 20,000MT (2.820 million) of PMS since 14th February, 2017; N1.170,452,408 outstanding Throughput bills since March 2016 and $2,952,555 and N6 million outstanding payment for Coastal vessels intervention bill since 2015.
Also, N59,320,045.57 short-payment from previous throughput bills; N5,709,981,426 statutory payment of jetty throughput charge of N.80k/litre and N.040k/litre as well as N341,106,999.95 for throughput services bill owed by NNPC.
Ifeanyi Uba, added that berthing fees of $20,000 per vessel, their shipping agents have paid on their behalf of a total of $2,999,919 leaving an outstanding of $5.540 million. Total naira component stands at N10,983,210,116.52 without accrued interest. Total US dollar component is $8,492,555.
Details later…
Ayanfe Akintola
