Georgetown: The General Manager of the Guyana Oil Company (GuyOil), Trevor Bassoo has tendered his resignation Monday amid allegations of a major fuel import racket which is currently being investigated by the police.
Reports emerged that a businessman alleged that officials at GuyOil contracted him to bring in fuel on the promise of kickbacks. Bassoo was appointed General Manager in November, 2020.
The businessman alleges that GuyOil got a sweeter deal and subsequently cancelled his arrangement, causing him to speak out.
Meanwhile, Bassoo in a social media post confirmed his resignation.
He said “It was brought to my attention that news is being circulated on social media that implies that I was sent on administrative leave in light of alleged corruption at GUYOIL. I wish to state that is INCORRECT. I also wish to advise that I have chosen to and have submitted my resignation to the Chairman and Board of Directors…I intend to solicit legal advice after which I will provide more information.”
Subsequently Guyoil issued a press statement as follows below:
It has come to the attention of The Guyana Oil Company Limited (GUYOIL) that allegations have been made in the media by Aaron Realty Inc. (ARI) that GUYOIL has contracted the said company to supply fuel. There is absolutely no truth to this allegation.
GUYOIL wishes to categorically state that whilst ARI was one of a number of companies which GUYOIL had discussions on the possible supply of fuel, GUYOIL has not at any time entered into a contract with ARI.
GUYOIL is pleased, in the interest of transparency and public disclosure, to set out the pre-requisite procedures in place and in practice which are followed by the company in the procurement of fuel from any entity:
- Competitive Procurement
- Due Diligence of the Supplying Company
- Purchase Order/ Contract;
- Nominated Quantity sent to Supplier with expected date of delivery;
- Quality & Quantity Surveyor Appointed to overlook the loading of the Cargo;
- Certificate of Quality/conformity with Technical Specification produced;
- Supplier sends Proforma Invoice (necessary for GRA to give permission to offload vessel);
- Certificate of Origin/ signed declaration that product was not sourced from embargoed country;
- Details of vessel to be used, the Q88 document;
- Detail report on the loading of vessel by independent inspector;
- Bill of Lading for the loaded vessel; and
- Updates from vessel on estimated time of arrival.
The Board of Directors has met with Dr. Ashni Singh, Senior Minister within the Office of the President with the responsibility for Finance and briefed him on the matter. The Minister has requested that the Auditor General be called in to investigate the allegations.
GUYOIL has also noted reports on the departure of the former General Manager, Jagmohan Bassoo. Mr. Bassoo offered his resignation to the company and the Board of Directors has accepted his resignation.
In the interim, a sub-committee of the Board of Directors has been appointed to oversee the day-to-day operations of the Company.
The Board of Directors of GUYOIL wishes to assure the public that at all times the Company will act in compliance with the Laws of Guyana and best practices as it relates to conducting its business.
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