By The Nigerian National Petroleum Corporation has confirmed that Chairman of Capital Oil and Gas, Ifeanyi Ubah returned the sum of N2bn out of the N11bn worth of diverted petroleum products.
This was made known by the Chief Operating Office of the Petroleum Pricing and Marketing Company (PPMC, an arm of NNPC), Nkem Obi.
Obi had appeared before the House Committee on Petroleum (Downstream) to explain the disappearance of products which belonged to the NNPC.
He disclosed to the Committee that the diversion of the petroleum products took place after the NNPC had an agreement with Capital oil before the latter defrauded the agency by tampering with the stored products.
It will be recalled that the Department of State Service had arrested the Capital Oil boss, Ubah for his involvement in the shady deal and also comments credited to him.
Though no agreement has been made public concerning the plan to return the whole estimated sum of money except the N2bn returned by Ubah.
