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IT Firm Assures Business Owners Of Fuel Fraud Elimination

Monday, October 14, 2019

The Managing Director of Concept Nova, a technology company, Chukwuma Ochonogor, has said the company’s innovative fuel management system has eliminated the challenge of fuel theft suffered by many businesses, especially fleet operators in Nigeria.

Ochonogor, made this known during a knowledge sharing session held in Lagos, recently.

The solution named Fuel Control System (FCS), has a telematics device, a cloud-based software, fuel level sensor designed to monitor fuel in tanks and its location, thereby assisting business owners to optimise their diesel consumption, thus offering an abundant return on investment.

It comes in two variants – a stationary FCS for tanks and a mobile FCS for trucks.

Ochonogor said: “The Fuel Control System enables corporate heads, business/asset owners and operation managers in different industries such as transportation, haulage and Logistics, FMCGs, shipping and delivery Services, etc have ultimate control over their diesel usage.

“It is a unique and flexible fuel management solution designed to get real-time information on diesel consumption and fuelling activities. 

“It also allows you to get various alerts of any unusual and suspicious activities such as diesel tampering, theft or tampered refuelling process that occurs within your organisation,” he added.

He pointed out that according to the World Bank, 70 per cent of firms in Nigeria use generators. 

This, he said made diesel the second or third highest expense for organisations. 

“Being one of the highest operational expenses does not deter employees and vendors from stealing diesel. Their acts increase organisations’ budget which eats into their ROI. 

“However, with stationary FCS, organisations can get prompt alerts that would eliminate theft and reduce fuelling cost greatly,” he said.

He further explained that the Mobile FCS has a vehicle tracking feature alongside the many benefits integrated to the solution. The vehicle tracking feature gives precise information about the location and time of criminal activity to the authorised individual assigned in an organisation. “This would aid in taking disciplinary actions and facilitate effective decision making.

“Fuel theft is one of the many problems that most businesses operating in Nigeria must grapple with on a daily basis. 

“In a report by Fleet Management Weekly by Shell, two out of every five drivers have witnessed their fellow drivers commit fuel-related frauds with fuel syphoning as its highest,” he said.

Source: This Day Newspaper