House of Reps resolves to investigate NNPC’s financial records of 2018

House of Reps resolves to investigate NNPC’s financial records of 2018

- The House of Representatives says it is commencing a probe into the financial activities of the NNPC

- Ossai Nicholas argues that the NNPC is responsible for the failure of state commissioners and the finance minister to hold FAAC meeting

- He says as a result, those who have worked are yet to get their salaries

Reports say the House of Representatives has decided to investigate the financial records as well as the actual production capacity of the Nigerian National Petroleum Corporation (NNPC) from January 2018 to date.

Channels Television says the investigation will help to ascertain the volume of sales of crude oil of the NNPC.

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According to the report, the House further wants to investigate the yearly production output “to determine the impropriety or otherwise of the claim of two million barrels of crude oil per day by the corporation.”

It was learnt that the motion to investigate the NNPC was moved by Ossai Nicholas, a member of the Peoples Democratic Party (PDP) from Delta.

The report said Nicholas cited NNPC’s current under-remittances to federation account adding that this was part of the reasons the Federation Accounts Allocation Committee (FAAC) meeting for the month of June, could not hold.

Ossai argued that the controversial N100 billion ($277 million, €236 million) shortfall is not connected to the oil price, but likely as a result of some individuals not doing what they are supposed to.

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“The people who have worked have not received their salaries,” the lawmaker said adding that the NNPC had often given explanations that are not cogent.

NAIJ.com earlier reported that the monthly Federation Account Allocation Committee (FAAC) meeting again ended in a stalemate as federal and state governments reject the revenue figures submitted by NNPC for May.

One of the finance commissioners, who did not want to be named told the News Agency of Nigeria (NAN) that the committee was still not satisfied with the revenue figures presented before the committee by the NNPC.

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Source: Naija.ng

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