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    18 Aug 2012

    Fuel subsidy scams: FG indicts Conoil, MRS, Capital Oil, and 18 others !


    The Federal Government has indicted Conoil Plc, MRS Oil and Gas Ltd., Capital Oil and Gas Industry Ltd., and 18 other firms in the fuel subsidy scandal.
    It said that these companies were being investigated based on the evidence that they might have engaged in fraudulent activities under the fuel subsidy regime.
    The Ministry of Finance, Dr Ngozi Okonjo Iweala stated this on Friday, gave the names of the other companies as Aluminnur Resources Ltd., Brilla Energy Ltd., Caades Oil and Gas Ltd., Downstream Energy Source Ltd., Eterna Plc and Eurafric Oil and Gas Ltd.
    Others are Lumen Skies Ltd., Majope Investment Ltd., Matrix Energy Ltd., Menon Oil and Gas Ltd., MOB International Services, Nasaman Oil Services Ltd., Natacel Petroleum Ltd., Ocean Energy Trading and Services, Pinnacle Contractors Ltd., Sifax Oil and Gas Company, Tonique Oil Services Ltd. and Top Oil and Gas Development Company Ltd.

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