The Managing Director of IPMAN Investment Limited, Mr Tunji Adeniji, has exonerated the Chairman of the Board of Trustees of the company, Aminu Abdulkadir over allegation of embezzling N10.9 billion subsidy claim.
In a statement, the Mr Adeniji described as false the allegations that the BoT chairman of his company embezzled the proceeds of petroleum subsidy claim of the association amounting to over N10.9 billion.
He said the allegation, credited to a factional President of IPMAN, Chinedu Okoronkwo was untrue.
He said the accused was not guilty of such crime, adding that he was committed to the IPMAN Investment Limited.
He added that the allegation was the handiwork of elements that were unhappy with the current peaceful state of the association.
He, however challenged anyone with evidence of wrong doing in IPMAN to come forward with such information for appropriate actions.
He said there was nothing like a N10 billion subsidy claims, stating that the company was legally instituted with credible members managing the company which the accuser had testified to the credibility of the business group.
He said all permits given to IPMAN investment Limited by the Petroleum Products Pricing and Regulatory Agency (PPPRA) were duly executed and the trucks certified.
He said: “Okoronkwo ought to know the bounds of free speech and where defamation starts. It is hoped that he will click his tail in-between his legs and will correct his utterances for, as the holy Book puts it, people perish for lack of knowledge and unfortunately, the accuser has shown that he is one such ignorant persons.
“The company therefore requires an express apology from him for his acts of gross misrepresentation of facts or face appropriate legal actions,’’ he added. He further stated that the company had a certified permit in the country and engages in the importation of refined petroleum products under the petroleum support fund (PSF) scheme of the country.
