Please Wait....
Close

    NNPC has owed Capital Oil N16bn for two years – Ifeanyi Ubah


    [Read Also: CAPITAL OIL BOSS, IFEANYI UBAH, RELEASED BY DSS]

    Ubah said instead the national oil corporation was owing him N16 billion.

    “The contract which is what we operate with NNPC puts us in a position of a stock manager which is somewhat the vessel akin to an oil bank.

    “This allows for coming in and loading out of products so long as we ensure that all parties having products in our storage ultimately receive their total stock.

    “The NNPC in the past has also borrowed products from us to keep their supply and distribution chain running.

    “NNPC claimed that we owe N11 billion but failed to reveal that they owe us N16 billion with a key portion of the debt spanning over two years,” Ubah said.

    Follow @ynaija on Twitter

    Similar Posts

    Story Page