The Pipeline Products and Marketing Company (PPMC) have stated that its Managing Director was never summoned by the Senate over allegation of fraud in crude oil SWAP deal.
In a statement, PPMC’s spokesperson, Mr. Nasir Imodagbe said, contrary to the report, the PPMC Managing Director, Mr. Haruna Momoh, was invited by the Senate Committee on Drugs, Narcotics, Financial Crimes and Anti-Corruption to explain PPMC’s operations.
He said the content of the invitation which also asked for explanation on dynamics of the petroleum SWAP programme was clear and never alleged any fraud.
It would be recalled that the SWAP programme was approved by late President Umaru Yar’Adua for and in favour of the Nigerian National Petroleum Corporation (NNPC).
It is based on the 445,000 barrels crude oil allocation to the NNPC for domestic consumption. The proceeds are remitted to the Federation Account directly by NNPC.
Imodagbe said the PPMC MD had explained to the committee that SWAP arrangement had never been arranged by PPMC.
“PPMC is merely an operator for and on behalf of the NNPC.
PPMC’s mandate is the supply and distribution of petroleum products nationwide, transportation of crude oil to the refineries and running of the NNPC crude oil and products pipelines,” he said
The spokesperson described the publication as a smear campaign of calumny orchestrated by distractors.
He said the word, fraud, was not mentioned by the committee in its letter to the company.
“Perhaps PPMC has already been adjudged guilty and awaiting sentencing on a matter that is largely within the sphere of concern of PPMC, at best. In the alternative, the said publication was planted to attract public ridicule and or odium for PPMC,” he said.
Imodagbe said the chairman of the committee, Senator Victor Lar, expressed displeasure over the media misrepresentation of the committee’s invitation to PPMC.
He said the chairman had therefore apologised to Momoh when he appeared before the committee on Monday, March 9.He quoted the committee chairman as saying “permit me to express my displeasure at the media attention to this hearing has relieved.
“In one of the dailies, it was alleged that Mr. Momoh was being visited in connection with fraud, that is not correct. Mr Momoh is the head of an organ. He cannot therefore be responsible for the` fraud` if any. Mr Momoh, on behalf of the committee please, accept our apology. We don’t believe in media trial.”