Tuesday, 16 October 2018
Scandal Rocks NPDC As Maidoki Musa Engages In Multi-Billion Dollar Fraud
Despite President Muhammadu Buhari’s fight against corruption since his assumption of office, the end of the menace may not be seen as the management of the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), may be involved in a corruption mess.
While attempts are being made to cover up the lapses discovered by some investigators, the General Manager, Supply Chain Management Division Education, Mr. Maidoki Garba Musa, is stooping at nothing to enthrone corruption in the company.
Sources revealed that Mr. Garba, alongside some top management staff have been mismanaging the company’s resources through the award of contracts to incompetent companies as against the public procurement act.
The award of contracts to dummy companies has been the practice of government workers especially top management board, an approach discovered to be common among government parastatals by the Economic Financial Commission (EFCC)
In one of the freshest scandal rocking the company, Mr. Maidoki was caught engaging in monumental fraud leading to billions of naira.
Recall that the financial activities of the company has been operated in secrecy making it difficult for sources to lay hands on some documents detailing how Mr. Maidoki, has been mismanaging the company’s resources.
Sources who are privy to Maidoki’s activities and transactions in the company revealed that since his assumption into office, he has being involved in countless sharp business practices, violation of laid down rules and regulations, illegal deductions of funds belonging to the company, and failure to account for several billions of naira that should go to the federation account.
Our source further explained that Mr. Maidoki has several times also failed to account for allocation of multi billion naira contracts. The mismanagement attained a climax recently that auditors were sent in to review the opaque activities characterized by gaps, overlaps and inconsistencies, a move strongly resisted by Maidoki.
Believing that would turn the auditors away, our source further explained that Mr Maidoki. also failed to provide them with other relevant documents that would have aided their assignment into his activities.
Maidoki’s has also been severely indicted over the shoddy and non-transparent manner it allocates contracts to friends and family members every year. Many times, the evaluation criteria for bidding of contracts are not clearly stated in contract documents, and selection exercises were based on individual discretion and wrong assumptions and criteria.
Some companies not on the approved list of contractors were allocated contracts, giving room for money to be syphoned even with relevant guarantees and safeguards not implemented. Maidoki also unilaterally awards contract without regard for approved guidelines and procedures.
Among other forms of misdemeanor, ranging from poor accounting to shoddy record keeping, sources revealed that Maidoki has several occasions incur additional cost on the Company from using its facility for personal use and enriching himself and cronies.