Reps to investigate N100billion under-remittance by NNPC

Reps to investigate N100billion under-remittance by NNPC

OrderPaperToday – The House of Representatives has resolved to investigate the Nigerian National Petroleum Corporation (NNPC) for under remittance of over N100Billion in the month of June.

An adhoc committee is to investigate crude oil sales from January to July 2018, as well as other sources of funds to NNPC for the same period.

The yet to be composed committee mandate includes; investigating the revenue template of the NNPC, exchange rate and cash haul of the state owned oil company.

The decision to investigate the NNPC followed a motion of urgent public importance moved by Ossai Nicholas Ossai (PDP, Delta), entitled: Urgent need to investigate NNPC’s current under-remittances to federation account.

While moving the motion, Ossai explained that monthly Federal Account Allocation Committee (FAAC) could not hold because of the N100billion under remittance by NNPC.

He noted that the under-remittance which according to him is a recurring decimal has slowed down the pace of government businesses across the country.

Ossai raised concern that states and local governments that depend on federal allocations are unable to pay monthly salaries and allowances of its workers for the month of June.

He noted further that if the under-remittance is not checked, through investigation, the NNPC could be emboldened to declare no revenue from sales of oil and gas. He also accused the NNPC of usurping the powers of the National Assembly by spending without appropriation.

Speaking on the motion, Aminu Shagari (APC, Sokoto) admonished the House to produce the reports of previous investigations into the operations of the NNPC, adding that question of “gut” by the committee should be considered.

He said, “What happened to the reports of the other committees set up, in 6th and 7th Assembly, we must ask ourselves, these committees, do they have the gut to carry out the investigation?” Noting that “the members of these committees are picked apart, and they will start speaking from two mouth.”

Also speaking on the motion, Abdulmumin Jibrin (APC, Kano) stated that the investigation must be expanded to include issues volume of production and sales as he described the inability of FAAC to meet as a national security issue.

When the motion was put to vote by the Speaker, Yakubu Dogara, the “ayes” had it. The committee has 2 weeks to submit report.