Multi-Million Dollars Forex Diversion: Ben Amego refutes allegation, says Forex transaction had nothing to do with the NNPC Forex intervention Scheme

House of Reps

The Company Secretary of Bulk Strategic Reserve Ltd, Mr. Ben Amego, has refuted reports that he was arrested on the order of the House of Representatives Ad-hoc committee during a public hearing on the review of fuel pump price.

The Ad-hoc Committee, which was investigating the possibility of a downward review of Premium Motor Spirit (PMS) from the current N145 per liter as part of the investigation, probing the regime of special intervention fund started in May 2016 by the Federal Government to assist oil marketers after the removal of oil subsidy.

Mr. Amego in a statement made available to the press, described the report published by some online media as baseless and figment of the writers imagination.

‘Nobody issued any warrant for my arrest, I was never shown a warrant of arrest, neither was I detained at any police station. The online reports to the contrary is the work of a lazy writer, who has no time for proper investigation,' Amego said.

He noted that his employer, Bulk Strategic Company Limited, was invited along with other oil marketers by the adhoc committee of the House of Reps for the review of pump price. And that he represented his employer as the Company Secretary.

According to Mr. Amego, "The public hearing was held in the open and the interaction was friendly. I answered questions directed at me by the committee and volunteered additional information that could help the committee in their assignment, which was a downwards review of pump price."

Mr. Amego also recalled that in his testimony, he informed the committee that his company did not participate in NNPC forex intervention program, neither did it receive Forex from the Central Bank of Nigeria (CBN) under the said scheme. 

The statement added: "The committee however had a contrary view as they were in possession of a document showing that the company received Forex from the CBN and thus ordered Mr. Amego to clarify in a written statement before the police.

"The company and Mr. Amego made all the necessary clarifications showing that his initial statement before the committee was correct. That the Forex transaction noted by the committee had nothing to do with the NNPC Forex intervention Scheme, but were Forex lawfully purchased by the company through its banks to pay for products it had validly imported under PPPRA import Scheme and not the NNPC Forex Intervention Scheme."

It also noted that all the necessary documents vindicating the company’s position were subsequently submitted by Mr. Amego and the committee at the end of its hearing never indicted the company nor Mr. Amego.
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