PEF To Slam N2million Fine On ‘Project Aquila’ Saboteurs

The Petroleum Equalization Fund (PEF) has lamented that following the successful take-off of the newly introduced ‘Project Aquila’ and the commencement of payments to marketers under it has however discovered alarming rate of removal of affixed tags on trucks and other fraudulent acts carried out by petroleum transporters.

The Petroleum Equalization Fund (PEF) has lamented that following the successful take-off of the newly introduced ‘Project Aquila’ and the commencement of payments to marketers under it has however discovered alarming rate of removal of affixed tags on trucks and other fraudulent acts carried out by petroleum transporters.
According to a statement signed by the Head of Corporate Communications of PEF and which was sighted by Shipping Position Daily in Lagos, these fraudulent acts have been noticed by the agency and it will henceforth suspend any transporter caught in the act after which the person will have to pay a fine of N2million before he can be allowed to file any further claims under the scheme.
The transporters carry out this action by removing the tracking device which is in form of a tag that is fixed on every truck at the point of loading, this tags is to help PEF monitor the product and its volume from the point of loading and ensure that it gets to its destination intact.
The statement reads in part that; “these acts are being perpetrated with the intention of sabotaging the scheme or to aid perpetrators in gaining undue benefits thereby shortchanging the government financially”.
“Management has resolved to curb this trend by suspending any marketer involved in such acts from filling any claims with it for six month from the date of such act”
“In addition, a re-engagement fee of N2million will have to be paid before such marketer is allowed to participate in filling claims with the board after expiry of the suspension period”, it stated.
The agency has also said that apart from the suspension and payment of fine, perpetrators of such incidents will also be reported to the relevant government security agencies for further necessary action.