First Bank

Thursday, June 8, 2017

Rain Oil CEO, Gabriel Ogbechie Faces To Be Prosecuted Over Alleged Economic Sabotage

The Department of State Security Services (DSS) and the Economic and Financial Crimes Commission (EFCC) will soon beam their searchlights on MD/CEO of Rain Oil Ltd, Mr. Gabriel Ogbechie, inside source said.
Mr Ogbechie is one of the
big players in the corruption ridden oil and gas sector.
President Muhammadu Buhari had early 2016 set up an investigative panel to discreetly probe the oil and gas sector.
The reports of the panel are to be channeled through the Chief of Staff, Alh. Abba Kyari and delivered on his table.
Report said one of the mandates given by the president to the panel was to exhume all reports of past probes that were swept under the carpet by previous administrations.

Source revealed that few weeks after the panel swung into action, Mr Gabriel Ogbechie’s name and his company, Rain Oil Limited were found in many mind boggling dirty deals with officials of NNPC.

It was gathered that an interim report of the secret investigative panel had been submitted to the President Buhari.

The report according to insider recommended the prosecution of  Ogbechie and the Managing Director of Capital Oil and Gas Limited, Mr Ifeanyi Uba.

Uba is currently being detained by the DSS.
The DSS few days ago told an Abuja High Court that Mr Ifeanyi Uba unilaterally diverted about 80 million litres of Premium Motor Spirit (PMS) kept in his Tank Farm by the NNPC.

DSS accused Ubah of selling the products and pocketing the proceeds, adding that the offence amounted to economic sabotage.

Competent sources at the DSS and EFCC confirmed to us that the agencies are already rounding off their investigations on Rain Oil bos.

Incidentally, Ogbechei is currently facing another probe by the House of Reps Ad hoc Committee on review of pump price of petroleum . He was one of those accused of not being able to account for over One billion dollars petroleum products.

The Rain Oil boss was also facing allegation of misappropriation of the FOREX collected as oil importer to ensure steady supply of Premium Motor Spirit.


 orijoreporter

No comments:

Post a Comment