Fake NNPC agents target foreign investors with illegal meeting fees

Business Insider

a day ago

Due to a surge in impersonation schemes in which people falsely pretend to be representatives of the corporation, the Nigerian National Petroleum Corporation Limited (NNPC Ltd) has warned foreign investors.
The Nigerian National Petroleum Corporation Limited (NNPC Ltd) has warned international investors about impersonation schemes.
The corporation affirmed that such fraudulent activities are unauthorized and illegal, urging vigilance and prompt reporting of incidents.
NNPC emphasized its commitment to integrity, professionalism, and conducting business through official and transparent channels.
The group revealed in a statement issued Monday by Olufemi Soneye, the company's chief corporate communications officer, that these impersonators have been asking unwary investors to pay them to meet with the company's executives, management team, and board of directors.
What the NNPC said
'The general public is advised to beware of individuals and companies falsely claiming to represent NNPC Limited. Their tactics include soliciting fees for meetings with the NNPC board of directors, executives, and management staff. These actions are unauthorised and illegal, the group stated.
'Foreign investors and international business entities are especially urged to remain cautious. If approached, report the incident to the appropriate authorities immediately,' Soneye said.
He stressed the company's commitment to ethical behavior and professionalism in all business transactions.
The NNPC also informed stakeholders that all genuine discussions with its leadership follow due procedure and take place through official, transparent channels, as seen in the Punch.
'NNPC Limited remains committed to transparency, integrity, and the protection of our stakeholders in all interactions. Let's work together to prevent scams. Stay alert and share this notice,' he said.
The warning comes at a time when Nigeria's national oil company is positioning itself to attract more global investment following its transformation from a government corporation into a commercially driven limited liability company.
Early in April, Nigeria's president, Bola Tinubu, made significant changes to the group with the appointment of Bayo Ojulari as its new CEO.
However, the group has not been without its challenges. For most of the last two years, the NNPC had been in a heated dispute with the Dangote Refinery over the sale of crude.