Politics

More trouble for NNPC boss Baru, as Senate summons him, others

Forensic report shows NNPC, others under remitted revenues to Federation Account

Barely two weeks after the embattled Minister of State for Petroleum Resources, Dr. Ibe Kachikwu’s letter addressed to President Muhammadu Buhari was leaked to the media, where he alleged lack of due process in the award of contract valued at over $25 billion by the Nigerian National Petroleum Corporation (NNPC), more troubles appear to be looming for the Group Managing Director of the national oil company, Dr. Maikanti Baru.

The Senate committee on Ethics, Privileges and Public Petitions, has begun probe into an alleged revocation of OML 13 and awarding same to the Nigerian Petroleum Development Company (NPDC), a subsidiary of NNPC through executive fiat.

The committee is also summoning the Managing Director of Shell Petroleum Development Company of Nigeria Limited (SPDC), over its involvement in the revocation of the OML 13 and being re-awarded without going through the statutory Licensing Bids Rounds, just as it was alleged that the transaction was shrouded in mystery and under the table circumstances.

Read Also : For appointing himself Petroleum Minister, Agbakoba drags Buhari to court

According to the committee, it has become imperative to carry out a holistic investigation into the revocation as Nigeria cannot afford another Malabu OPL 245 scandal as the country struggles to navigate away from recession.

Speaking in Abuja n Monday, during a sitting, it’s chairman, Samuel Anyanwu, warned that the Senate would issue a warrant of arrest on the Managing Director of SPDC if he fails to appear.

According to Anyanwu, the committee would issue a warrant of arrest on him against the backdrop that the chief executive officer of SPDC had been invited three times by the committee and he failed to appear, just as he warned that the Senate would do everything possible to block all the conduit pipes being used to syphon the nation’s resources.

He said though there was nothing wrong inviting foreign investors, but the action must not kill or swallow indigenous companies.

 

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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
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