IPMAN tells FG to revisit alleged N10.9bn subsidy fraud

The new Board of Trustees of  the Independent Petroleum Marketers Association of Nigeria (IPMAN) led by Chief Chinedu Okoronkwo has called on the Federal Government to immediately reopen investigation into the alleged N10.9 billion subsidy fraud involving IPMAN Investments Limited.

The call was made at the end of the group’s extraordinary General Meeting in Abuja on Tuesday by the President of the association, stating that the association had dissolved its Board of Trustees and amended its constitution.

Okoronkwo said the group will like to know the level of IPMAN’s alleged involvement in the fraud. According to him, individuals found culpable will be brought to book and made to answer for their wrongdoing. He said that the association unanimously voted to suspend its former president, Alhaji Aminu abdulkadir, and one Lawson Obasa.

He  further said the decision for suspending them and dissolving the board was because of alleged corrupt practices perpetrated by the past president and some members of the board.

Following the dissolution of the board, members of the association present at the meeting constituted a new 21-member Board of Trustees, representing the 21 depots across the country, he said.

Okoronkwo said the new board had responsibility to advise the executive on IPMAN’s business processes to ensure that marketers enjoyed adequate supply of products and guarantee unhindered supply of products.

The group passed a vote of confidence on the Chinedu Okoronkwo-led NEC and adopted the 2009 amended constitution to reflect changes in the composition of the Board of Trustees. It said the amendment included automatic succession clause for the office of the National Vice-President as enshrined in Articles 20 and 22 of the 2009 Amended Constitution.

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