Alleged N500bn debt-:ICSAN boss throw weight behind probe of oil marketers

President of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Dr. Nat Ofo, has thrown his weight behind the decision of the lower house, the House of Representatives, to probe oil marketers, indebted to the Petroleum Products Marketing Company (PPMC), adding that such would further boost the Federal Government's revenue, especially at this period of recession.

Dr. Ofo, who stated this in Lagos over the weekend at the 42nd Annual General Meeting of the institute, also charged members of the Institute to shun any form of professional misconduct that might bring the reputation of the institute into disrepute.

The ICSAN boss argued that the planned probe of the oil marketers was a good step in the right direction so as to recover whatever debt owed the PPMC.

"The resolve of the House of Reps to probe the oil marketers allegedly indebted to the PPMC to the tune of N500 billion is good, but the probe must be genuine and the federal lawmakers should ensure that it is aimed at recovering the debt and not to enrich the pockets of those in charge of the probe.

"As a matter of fact, the probe should not go the way of other probes, which at the end of the day did not achieve the desired objective. The probe is not bad, but we must ask: how genuine is it?

"It must be seen to be just and fair so as to recover the alleged debt being owed the PPMC and boost the dwindling revenue of the Federal Government," Ofo stated.

He enjoined ICSAN members to shun all unprofessional conducts capable of tarnishing their personal reputation and the image of the Institute.

"As Corporate Governance practitioners, we must always be at the forefront of promoting the ideals for which ICSAN is reputed. A professional body is as good as the support it enjoys from its members," he further said.

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