SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

CREATE AN ACCOUNT FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!

CREATE ACCOUNT

ALREADY HAVE AN ACCOUNT?

Magnartis Finance & Investment Limited

  • LOGIN
  • Home
  • About
    • About Us
    • Management Team
    • Directors
  • Services
    • Stockbroking
    • Portfolio Management
    • Corporate Finance
    • Advisory Services
  • Projects
  • Download
  • Contact
  • Open an account
  • Home
  • Crude oil lifting scam: NNPC raises alarm over fake contract documents
  • Capital Market News
  • Crude oil lifting scam: NNPC raises alarm over fake contract documents
 

Crude oil lifting scam: NNPC raises alarm over fake contract documents

Crude oil lifting scam: NNPC raises alarm over fake contract documents

by magna / Wednesday, 08 October 2014 / Published in Capital Market News

…Disowns Lavi Int’l

 The Nigerian National Petroleum Corporation (NNPC) has distanced itself from the crude oil lifting deal with a firm called Lavi International Corporation, just as the management had raised the alarm over the circulation of fake letters of authorisation purportedly from it to buy and/or sell Nigerian crude oil.The corporation in a statement in Abuja signed by the Group Public Affairs Manager, Mr. Ohi Alegbe, urged members of the public to be wary of persons with fraudulent intentions circulating letters authorising the lifting of Bonny Light crude oil from Nigeria.

A paragraph in one of the fake letters of authorisation in circulation reads:

“We hereby confirm that the Nigerian National Petroleum Corporation (NNPC) has entered into contractual arrangements directly with Lavi International Corp to supply Bonny Light crude oil to the Lavi International Corp Associated Refineries and or Global Traders, and that the Lavi International Corp has the power and authority to sell or otherwise deal with the Bonny Light crude oil, the subject of those contractual agreements.”

The NNPC, however, stated that Messrs Lavi International Corp is not one of its crude oil off-takers for the 2014-2015 term contract period and therefore has not been allocated any crude oil volume as speculated in the fake letter of authorisation.

It further noted that the list of local and international companies duly approved as NNPC’s crude oil off-takers for the 2014-2015 term contract period has been widely publicised and called on members of the public to avail themselves of such information to avoid being duped by unscrupulous elements.

“Meanwhile, we are working closely with relevant security agencies to track and bring to book all those behind these nefarious activities,” NNPC management stated.

Source : SunOnline

About magna

What you can read next

It’s tenants market as rent growth slows 1.6% in London
Nigeria bond yields rise after CBN rate hike
DMO To Raise N80.2bn Worth Of Bonds On June 17

Market Capitalization

[visualizer id="161"]

Newsletter Subscription


 

About Us

Magnartis Finance & Investment Ltd (“Magnartis”) is a Dealing Member of The Nigerian Stock Exchange with expertise in Stockbroking and Trade Execution Services.

Download

  • FGN Savings Bond Subscription Form
  • Mandate For Ebonus
  • Cscs Clients Authorization Form For Change Of Bank
  • Cscs Client Bank Update Form
  • Account Opening Form KYC

Research

  • Daily Price List
  • Daily Market Summary
  • Weekly Market Summary
  • Special Reports

Contact Info

16, Boyle Street, Onikan, Lagos, Nigeria

Office Number:
01-4538066

E-mail:
info@magnartis.com

  • GET SOCIAL

© 2014 Magnartis Finance & Investment Limited. All Right Reserved

TOP