3 December 2012

Nigeria: Capital Oil Petitions Reps Over Subsidy Scam

Capital Oil and Gas Industries limited has petitioned the House of Representatives over its indictment by the presidential committee on fuel subsidy verification.

In a petition to the House two weeks ago, the company prayed the House to study the report of the committee on fuel subsidy, which recommended Capital Oil and Gas for further investigation "without due process, wilful refusal of the Finance Ministry to remit it's overdue subsidy payment of over N20 billion, unethical and insiders abuse by Access Bank and Mr. Cosmas Maduka contrary to section 18 and 20 (2) of BOFIA law 2004."

In a statement made available to newsmen yesterday in Abuja, Mr. Nick Hayes, spokesperson of the company said that it is for the company and it's CEO to show Nigerians that they have nothing to hide as well as to clear some representations in the media.

The company urged the House to intervene to redress the various injustices being meted out to it and its Managing Director Ifeanyi Uba.

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