We did not commission Pinnacle coy to auction impounded petroleum products – EFCC


The Economic and Financial Crimes Commission (EFCC) has dissociated itself from the activities of Pinnacle Trading & Investment company which has been parading itself as auctioneer of the commission.

EFCC said in a statement on Friday that the company and its agents have been parading themselves as auctioneers purportedly appointed by the Commission to dispose of impounded petroleum products aboard MT Good Success and MT Asteris.

The Head Media & Publicity, of the Commission, Wilson Uwujaren on Friday warned the public against transacting any business concerning EFCC with the company.

“The general public is hereby warned to refrain from engaging in any activity in relation to the auctioning of any vessel or petroleum product on behalf of the Commission, as EFCC has not duly authorized anyone to act on its behalf in that regard. EFCC operatives “The sources of the fraudulent letter of engagement being paraded by Messrs. Pinnacle Trading & Investment Nig. Ltd., are currently being investigated, with a view to bringing them to book,” he said.

The vessels and their operators were arrested by the Nigerian Navy, for engaging in illegal activities and handed over to the EFCC.

“By virtue of two judgments of Justice I.N Buba of the Federal High Court, Lagos, on 15th December, 2015, their operators were convicted and the vessels and their contents totaling 4,882.097 metric ton of Premium Motor Spirit and Crude oil, forfeited to the Federal Government.

“For the avoidance of any doubt, EFCC has not entered into any contract with, nor appointed Messrs. Pinnacle Trading & Investment Nig. Ltd., to act on its behalf on any matter, whatsoever.

“Anyone found to be parading himself as an auctioneer or agent under whatever guise in respect of the vessels MT Good Success and MT Asteris and their contents, should be reported to the Commission or the nearest police station.”