REPS COMMITTEE LAUNCHES INVESTIGATION INTO "LOST" $2.4 BILLION WORTH OF OIL
Hearings into the missing oil have been opened by an ad hoc committee looking into "illegal transactions" of crude oil by representatives of the now-defunct Nigerian National Petroleum Corporation (NNPC).
The Code of Conduct Bureau appeared before the committee, led by Mark Gbillah, to start the probe on Tuesday.
In his motion, Ibrahim claimed that NNPC officials had sold 48 million barrels of oil to China but had not transferred the proceeds to the federation account.
Ibrahim spoke on behalf of Gbajabiamila, who urged the committee to assist in exposing the actual state of affairs.
"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.
The Attorney General of the Federation, Abubakar Malami, and oil firms were invited to the hearing but did not show up, according to the Chairman of the Committee, Gbillah, in his closing remarks.
He issued a warning that all invited officials must abide by the invitation in order for the committee to avoid using its warrant for arrest.
"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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