The Managing Director of IPMAN Investment Limited, Mr Tunji Adeniji, has exonerated its company over reports of alleged N10.9 billion subsidy scam credited to a factional president of IPMAN, Elder Chinedu Okoronkwo.
In a statement after the IPMAN NEC meeting in Abuja, the allegation was described as false allegations that its Board of Trustees Chairman, Alhaji Aminu Abdulkadir embezzled the proceeds of petroleum subsidy claim of the association amounting to over N10.9 billion.
He said that the allegation, which was recently attributed to Okoronkwo, one of its factional leaders, was untrue insisting that the accused was not guilty of such crime, adding that he was committed to the IPMAN Investment Limited.
He added that the allegation was the handiwork of elements that were unhappy with the current peaceful state of the association.
He, however challenged anyone with evidence of wrong doing in IPMAN to come forward with such information for appropriate actions, insisting that there was nothing like a N10 billion subsidy claims.