Reps issue ultimatum to NNPC, subsidiaries over usage of unauthorised accounts

The House of Representatives, on Sunday, March 14, issued an ultimatum to the Nigerian National Petroleum Corporation (NNPC) and its subsidiaries for an appearance before the House of Representatives Public Accounts Committee on Friday, or have a warrant of arrest issued against them.

Ripples Nigeria gathered that the NNPC and its subsidiaries were issued this ultimatum, following a query by the Auditor General of the Federation (AuGF) over dwindling revenue to the Federal Government.

Committee Chairman Oluwole Oke, who gave the directive, said the Ministries, Departments and Agencies (MDAs) of the Federal Government were operating on the Treasury Single Account (TSA), while NNPC was using its subsidiaries to operate commercial banks without the knowledge of the Accountant General of the Federation.

NNPC’s Chief Financial Officer, Umar Isa Ajiya, some weeks ago, had appeared before the committee and submitted that they were going to speak on behalf of their subsidiaries, a position the committee rejected.

Read also: Reps lament paucity of funds, lobby for increased budgetary allocation

The committee had said the subsidiaries were legal entities and must speak on their own.

Last week, NNPC’s Group Managing Director Mele Kyari told the lawmakers that the corporation and its subsidiaries were authorised by law to make deductions at source to fund their operations.

He had said his delay to appear before the committee was due to some exigencies.

Last Friday, Oke was enraged that the NNPC subsidiaries had not appeared before the committee and render their financial accounts, as they were expected to do, as of last week.

Consequently, he ordered the corporation and its subsidiaries to appear before the committee or a warrant of arrest be issued against them.

The lawmaker gave them seven days to appear before the committee.

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