NNPC denies hand in $25m oil block cash transaction

The Nigerian National Petroleum Corporation (NNPC) on Tuesday denied any link with the failed bid by an Indian company, Oil and Natural Gas Corp-Mittal Energy Limited (OMEL) to acquire an oil block and the consequent non-refund of the signature bonus it paid for the deal.
Recall that Ripples reported that attempts by the Indian High Commission to retrieve about N5.2billion ($25m) cash paid by the Indian firm for an oil block nine years ago had so far yielded no desirable result.
The Corporation, in a statement which reads in part, said: “We wish to clarify that NNPC is not the statutory body saddled with the responsibility of organizing bid rounds and so could not have received the alleged amount of $25 million or any payment from OMEL for the transaction.

Read also: Puzzles over N5.2b cash withheld by NNPC for 9 years

“We find the deliberate attempt to drag NNPC into the various allegations surrounding the transaction as mischievous and unfortunate. We urge those who are interested in the story to seek clarification with the relevant agencies responsible for conducting bid rounds and to whom OMEL may have paid the alleged fee.”

RipplesNigeria …without borders, without fears

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now