Erstwhile Managing Director of the Power Holding Company of Nigeria (PHCN), Engr. Joseph Oyeyani Makoju and a Peoples Democratic Party (PDP) chieftain in Cross River State, Mr Knut Ndoma-Egba have refuted allegations by Messrs Ringardas Nig. Ltd that both of them in collusion with others allegedly stole 25,000 metric tonnes of Low Pour Fuel Oil (LPFO) from a storage tank in Sapele in 2006.
THISDAY had on October 23, 2012 published a story in which Riingardas said it petitioned the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over the alleged fraud.
Their solicitors, Bernard E. Afu and Associates (Fountain Chambers) Legal Practitioners and Consultants in a letter to THISDAY dated 08 November, 2012 , stated that the allegation against their clients is "false, wicked and libellous."