By Olawale Olaleye

 


The Petroleum Products Pricing and Regulatory Agency (PPPRA) has temporarily lifted the suspension order it placed on Nimex Petroleum last month and said the submission made by the management would be subjected to further examination with a view to ascertaining the veracity of its claim.

Executive Secretary at PPPRA, Mr. Reginald Stanley

In a letter dated May 30 with reference no: A.4/4/759/ C.299 /I/84, addressed to the Managing Director of Nimex Petroleum SA and signed by the Executive Secretary at PPPRA, Mr. Reginald Stanley, the agency said the temporary reprieve was to enable it carry out further examination and would not hesitate to sanction Nimex if found culpable.

PPPRA had sometime last month, announced the suspension of Nimex for failing to provide certain documents on demand in relation to its shuttle vessels which loaded from the mother vessel as well as the original documentation on the cumulative load-outs of the mother vessel.

The development had, however, raised suspicion that the oil firm might have been involved in some shady transactions, a move that eventually necessitated Nimex sending some of its men to the country to clear the air of possible misrepresentation and submit the requested documents.

In the letter titled: “Temporary Lifting of Suspension Order”, Stanley said: “We wish to inform you that following the provision of the requested information by your company, the suspension order placed on NIMEX Petroleum SA is hereby temporarily lifted.

“However, as part of the on-going reforms by the Agency in the Petroleum Products importation process and in line with our practice, your submission will be subjected to further and comprehensive examination with a view to ascertaining the veracity.

“Please be advised that in the event that your company is found culpable as a result of this verification exercise, the Agency will be left with no option, but to sanction your company,” he said.

 

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