Thursday, January 5, 2012

Senate releases names of those who stole Nigeria’s fortunes

Oando Oil, CONOIL, African Petroleum and MRS Oil are among the powerful players in the petroleum sector that have shared over N3.655 trillion between 2006 and September 2011 in pursuit of importation of refined petroleum products.
This was revealed today in Abuja by the Nigerian Senate joint Committee on Petroleum (Downstream), Appropriation and Finance.
Senator Magnus Ibe, the chairman of the committee, also disclosed that some 100 companies in the downstream sector and in construction, shared over N1.426 trillion between January and August 2011 alone.
Oando Oil is owned by Wale Tinubu, Mike Adenuga owns CONOIL, Femi Otedola owns AP, while MRS Oil is run by Aliko Dangote's brother, Sayyu Dantata. Other key players named today include Pinaccle Construction Ltd, as well as Integrated Oil and Gas, which is owned by a former Minister of the Interior, Capt. Emmanuel Iheanacho.
The full list as read out by Senator Abe, is as follows:
1. Oando Nigerian Plc. – N228.506 billion
2. MRS –N224.818 billion
3. Pinnacle Construction-N300 billion
4. Enak Oil & Gas –N19.684 billion
5. CONOIl – N37.960 billion
6. Bovas & Co. Nig. Ltd. – N5.685 billion,
7. Obat N85 billion and AP; N104.5billion.
8. Folawiyo Oil - N113.3 billion
9. IPMAN Investment Limited- N10.9billion
10. ACON - N24.1billion
11. Atio Oil-N64.4billion
12. AMP- N11.4billion
13. Honeywell-N12.2billion
14. Emac Oil- N19.2billion
15. D.Jones Oil-N14.8billion;
16. Capital Oil - N22.4 billion
17. AZ Oil- N18.613billion
18. Eterna oil- N5.57 billion
19. Dozil oil- N3.375 billion
20. Fort oil-N8.582 billion.
21. Integrated Oil and Gas- N30.777 billion!


  1. Oturugbekeeeeeeeee

  2. So how will they go about recovering all these cash? And leave our subsidy for us?

  3. That is the most important thing, leave our N65 naira for us.

    Btw these billionaires are fraudsters of the highest order. How can they be the ones running a country and laugh at the president at will. #Baffles me

  4. I still no trust badluck


  5. Lol @ the first comment. Real oturegbekeeesssss. The Adenuga's, Tinubus's, Dantata's, Otedola's, Folawiyo's, Obat's e.t.c God is God

  6. No be lie, names of THIEVES

  7. Poor people dey suffer and the rich people they complain.......just imagine how much money they all share thinking is 5 cents. God will Judge people wey make poor people dey suffer. LI keep it up!

  8. The list is just a diversion. Danjuma's company isn't mentioned here. Ah, i forgot, he's one of GEJ's staunch advisers! So GEJ wants to replace these people with a new set of people? It's really turn by turn Nigeria.
    It's more important to know why Ngozi Okonjo-Iweala was brought back to the country and how Christian Lagarde quickly went to Nigeria and praised SLS and NOI. The IMF and World Bank have been besmirched vis-à-vis Third World countries and their economies.

  9. i thought some mugus were praising them as if all the Anons and co were given some money to share . if for anything trusting that the cartel will be crushed --- only be say we hope the government will implement developmental policies i.e . provision of basics . instead of breeding a new set of thieves .

  10. "Hope" for a Government of thieves? That's a far stretch my dear Mama Somtee. It's going straight into their pockets.
    The old cabal they are trying to bring down may end up trying to bring down the new cabal.

  11. @ ginika ---- hmmm might be true in a way oooh when i saw them at the town hall meeting thisday held , i was wondering what their motive was considering their carpet was going to be swept off their feet!!!!!!!!!! and thinking that they are almost every where brros jona is, home or abroad ----- i'd wager that aunty ngo and our mama patience would commot dem like jiga very soon and put her people there .

  12. This Day? Another imperialist tool!
    Yes, their own people. You were praising Madam Sea Petroleum in another post. She will gain heavily from this as long as she listens to the Dame.

  13. Simple solution, let all these companies build the infrastructures, so Gej can reverse the fuel hike. Abi?

  14. So how will they get back all the money? The govtment should fight them and leave the masses. Leave our 65naira alone

  15. Abi @anon 4:16 why cant GEJ mandate them, afterall he is the president.NO Liver at all, only on the masses... mtchew

  16. Has anyone read Fela Durotoye's piece on this? It's worth reading. I think it sums it all up.

  17. @Ginika never read anything better ever since the protest started. Explanatory and short

  18. I don't see Jide Omokore's SPOG on the list. Anyway, the man owns so many "shell" oil companies it could be any of those listed. Jide Omokore is one of the biggest oil fraudsters. He is said to be engaged in round tripping of oil products, which is the process whereby unscrupulous oil importers present the same cargo of oil to receive subsidy payments, more than once, or get oil from Nigerian refineries and present falsified papers claiming that its imported oil, so they can collect subsidy payments from the FG. Meanwhile, Madam Diezani Alison-Madueke (aka the holder of GEJ's balls)is also shouting about cartel abi? Is she not teh godmother of oil cartels? She should explain how she signed off 55% of NNPC's interest in some of the oil blocks Shell divested, which NNPC had assigned to its subsidiary NPDC, in May 2011, on the last day of her tenure as Minister before she was later re-appointed. She should also explain the "sweetheart deal" she has with Chris Aire - oil blocks for jewels. The jewelry we see are wearing casually everyday are not costume or panda. They are real expensive stones and diamonds. Her relationship with him dates back to her tenure as Mines and Steel Minister. Chris Aire is now the proud owner of two oil blocks. From diamonds to oil baron. How nice for him! Hmmm! Yeye dey smell o!!!!

  19. Fela Durotoye's piece was well articulated and frank. Why can't Jonathan go after these people? Prosecute them or do whatever needs to be done to get the money they made back. Of course he won't because he's probably gained from some of them. Isn't it better for him to hunt them down than to force down this new price on every Nigerian?
    Oba Otudeko; Honeywell. Tomorrow they will say he's one of Nigeria's richest men.
    Capital Oil; Ifeanyi Ubah, the same one Peter Obi want's to succeed him in Anambra state. I fear for the future of Nigeria this year.

  20. Daughters of Eve - Diezani and Ngozi. When the bullets come i hope they will not dodge. They will pay for this hardship.

  21. Damn so otudekos hands too are soiled in this mess. Na wa oh! Does anybody know the gist on seven energy?

  22. that's why i said another cabal in the making , giving an enviroment where the government is true to it's self where things work roads and all okay remove subsidy and continue with improvement of infrastructures in place .

  23. Ladun's biggest fan06 January, 2012 16:07

    Here you go. Adele of course he owns one of these companies.

    1. OandO Nigeria Plc (Managing Director - Mr. Wale Tinubu) - N228. 506 billion

    2. MRS Oil Nigeria Plc (Alhaji Sayyu Idris Dantata as Chairman) - N224.818 billion

    3. Pinnacle Construction (Mr. Peter Mbah, Managing Director) - N300 billion

    4. Enak Oil & Gas (A shadowy company, Edem Duke maybe) - N19.684 billion

    5. CONOIL (Mike Adenuga, Chairman) - N37.960 billion

    6. Bovas & Co. Nig. Ltd. (Bamidele Samson, Managing Director) - N5.685 billion

    7. Obat Oil & Petroleum Ltd (FEO Akinruntan) - N85 billion

    8. Folawiyo Oil (Yinka Folawiyo, Chairman) - N113.3 billion

    9. IPMAN Investment Limited (a faceless organization) - N10.9 billion

    10. ACON (ACORN PETROLEUM LTD) (Alhaji Aliko Gwadabe) - N24.1 billion

    11. Atio Oil (another faceless company)- N64.4 billion

    12. AMP (another faceless company) - N11.4 billion
    13. Honeywell (Chief Oba Otudeko, Nino Ozara) - N12.2 billion

    14. Emac Oil (another faceless company) - N19.2 billion

    15. D.Jones Oil (same as G.D Jones, an independent family run UK Oil Company?) - N14.8 billion

    16. Capital Oil (Ifeanyi Patrick Ubah) - N22.4 billion

    17. AZ Oil (Chief Alexander Chika-Okafor) - N18.613 billion

    18. Eterna Oil (Alhaji Mahmud Bamanga Tukur & Fola Adeola) - N5.57 billion

    19. Dozil Oil (another faceless company) - N3.375 billion

    20. Forte Oil Plc (Olufemi Peter Otedola, Zira Malagadi) - N8.582 billion

    21. Integrated Oil & Gas (Captain Ihenacho Emmanuel) - N30.777 billion

    22. African Petroleum (Femi Peter Otedola, Chairman) - N104.58 billion

    23. A. Rano (AA Rano Nigeria Ltd, Alhaji Auwalu, a Kano transporter?) - N1.14 billion

    24. A.S.B Investment Company Ltd- (a faceless company) - N3.16 billion

    25. Arcon Plc - N24.116 billion

    26. Aminu Resources - N2.3 billion

    27. Avante Guard - N1.14 billion

    28. Avido - (a faceless company) - N3.64 billion

    29. Boffas & Company - N3.67 billion

    30. Brilla Energy (a faceless company) - N960.3 million

    31. DownStream Energy - N789.648 million

    32. Inco Ray (a faceless company) - N1.988 billion

    33. ASCON Oil – (Dr. Edozien) N5.271 billion

    34. Channel Oil - N1.308 billion

  24. na wa oh! dem just dey chop us sha.

  25. Very rapidly this web site will be famous amid all blog viewers, due to it's fastidious articles or reviews

    Here is my web blog;