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Count us out of complicity in $1.2bn oil swap deal — Aiteo

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By Sebastine Obasi

Aiteo, an integrated  energy group said it is not subject of an inquiry set up by the House of Representatives over an alleged payment of $1.2billion into the Central Bank of Nigeria’s (CBN) petroleum profit tax (PPT) account arising from crude oil transactions between 2011 and 2014.

Aiteo workers

According to the  Managing Director, Aiteo Downstream, Mr. Ewariazi Useh, the Group has no records of receiving any invitation from the Committee of the National Assembly relating to the inquiry that is the subject matter of a recent report by a national daily regarding the alleged export of $17 billion undeclared crude and gas resources from the country.

He said: “In consequence, no statement or explanation has been provided, on this subject, in this respect, by Aiteo or any of its authorised representatives.  It is common and public knowledge that Aiteo has operated extensively and transparently in the upstream and downstream space for several years.

‘‘We have participated in and provided information to several inquiries and investigations into activities in the oil and gas industry conducted by the National Assembly, over several years and will continue to do so if asked, as we consider this oversight function critical to the smooth functioning of this most important segment of the economy.’’

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