Reps Committee Begins Investigations Into Illegal Oil Sales

EKO HOT BLOG reports that the ad hoc committee set up by the Nigerian House of Representatives to investigate the alleged illegal sales of crude oil by officials of the defunct Nigerian National Petroleum Corporation (NNPC) has commenced its hearing.

The committee, led by Mark Gbillah, began the investigation on Tuesday with an appearance by the Code of Conduct Bureau.

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The House of Representatives had previously passed a resolution to investigate the allegations of the sale of 48 million barrels of crude oil by NNPC officials in China, who reportedly failed to remit the proceeds into the federation account. Isiaka Ibrahim moved the motion, leading to the committee’s formation.

The Speaker of the House, Femi Gbajabiamila, represented by Ibrahim, said the committee had the mandate to investigate the missing crude oil and total oil export from 2014 till date. He added that the committee must unveil the true situation of things regarding the allegations of missing crude oil.

“It was quite alarming to learn about whistleblower allegations that over $2.4 billion in possible revenue by the country was lost from the sale of 48 million barrels of Nigeria’s crude oil cargoes in China,” he said.

During the hearing, the Chairman of the Committee, Gbillah, revealed that the Minister of Finance, Zainab Ahmed, the Attorney General of the Federation, Abubakar Malami, and oil companies were invited to the hearing, but none of them appeared. Gbillah warned that all invited officials must honor the invitation or risk facing the committee’s power of arrest warrant.

“It’s unfortunate that the minister of finance is not here, the Attorney General of the Federation is not here,” he said.

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The committee will continue its investigation into the allegations of illegal sales of crude oil by NNPC officials in China and the failure to remit the proceeds into the federation account.