N10.9bn fraud allegation: BoT chairman didn’t embezzle petroleum subsidy fund – IPMAN

THE Independent Petroleum Marketers Association of Nigeria (IPMAN), on Sunday, cleared the air on the allegation of embezzlement of over N10.9 billion by the Board of Trustees Chairman, Alhaji Aminu Abdulkadir, being the proceeds of petroleum subsidy claim, saying the allegation was false and mischievous.

According to the association, “some individuals who are disenchanted with the emergence of Lawson Obasi as the National President, and also peace that has returned to IPMAN labelled allegations against some members of IPMAN that its executives embezzled over N10.9 billion.”

Its National Public Relations Officer, Lawan Danzaki, in an interview with newsmen in Abuja, while receiving leadership of Petroleum Tanker Drivers (PTD) led by Comrade Salmon Oladiti, said the allegation was the handiwork of disgruntled elements, who were disenchanted with the current peace that has just returned to the IPMAN.

He challenged anyone who has any evidence of wrong doing in IPMAN to come forward with such information for appropriate actions, stressing that there was nothing like N10.9 billion subsidy claims.

“The BoT chairman has alleged that his accusers have been mounting pressure on him to bring the original documents of the land for them to sell it off, which he vehemently refused,” he stressed further.

It will be recalled that a factional leader of IPMAN, Elder Chinedu Okoronkwo alleged that some members of the BoT led by Chairman, Alhaji Abdulkadir, have plotted to conceal a sum of N10.9 billion shady oil deal using IPMAN Investment Limited.

He further alleged that IPMAN property that situated opposite American Embassy in Abuja has been sold by Alhaji Abdulkadir.

Elder Okoronkwo maintained that there was fraud, stressing that N10.9 billion was paid into IPMAN Investment Company by the Federal Government as subsidy claim.