Nigeria: PPPRA Blacklists Fraudulent Oil Trader

28 November 2010

The Federal Government will stop subsidising marketers who buy premium motor spirit from Noble Group, a Singapore-listed trader in a move likely to prevent the company from dealing in the county's $6 billion fuel market. Citing discrepancies in Noble's shipping lists, in a fax sent to all Nigerian fuel marketers, the Petroleum Product Pricing Regulatory Agency (PPPRA) warned that it will not accept claims for subsidies if the fuel comes from the Singapore trader.

"Any vessel transaction or bill of lading emanating from Messrs Noble Clean Fuels will not be accepted for subsidy claims under the scheme", the PPPRA said in the fax message signed by one Mr. O. Agbaje on behalf of the agency's Executive Secretary, Mr. Abiodun Ibikunle.

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