The House of Representatives on Monday summoned Mr Ibrahim Magu, acting Chairman, Economic and Financial Crimes Commission (EFCC), over alleged 17 billion dollars undeclared oil proceeds.
Summoned with Magu are Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru and Central Bank of Nigeria (CBN) governor, Mr Godwin Emefiele.
They are expected to appear on Tuesday before the House’s Ad hoc Committee investigating the alleged theft of the oil funds.
Chairman of the committee, Rep. Abdulrazak Namdas, announced the invitation of the three persons at the opening of the investigation on Monday in Abuja, following the committee’s displeasure that the chief executives sent their subordinates to represent them.
Also summoned are Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside and Accountant-General of the Federation, Mr Ahmed Idris.
Also to appear before the committee on the issue are Group General Manager, National Petroleum Investment Management Services (NAPIMS), Mr Stephen Sejebor and a Director at the Department of Petroleum Resources (DPR), Mr Modecai Ladan.
Namdas, who is also the spokesman of the lower chamber, said that since the nation depended on oil proceeds, no fight against corruption could be meaningful without serious searchlight on the oil industry.
According to him, this is especially when the perpetrators are high and mighty and inexorably the models the society looks up to.
The committee chairman warned that the House would not hesitate to invoke its constitutional powers to compel the invited chief executives to appear, if they defaulted.
He, therefore, turned back directors and other management staff who were sent as representatives of their respective organisations at the committee’s sitting.
Namdas had said earlier that reports had it that over 57 million barrels of crude oil were illegally exported and sold in the U.S. between January, 2011 and December, 2014.
He said that the estimated revenue loss by the government of Nigeria “is around 12 billion dollars’’.
“At an exchange rate of N196 to a dollar, this translates to over N2 trillion. You can imagine what the value is now,” he said.
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