The House of Representatives Ad hoc Committee investigating the allegedly missing 17 billion dollars crude oil and Liquified Natural Gas revenue, on Monday uncovered another 15 billion dollars in unremitted revenue into Federation Account, The Nation reports.

The trace of the alleged missing fund believed to have been stolen and diverted to a foreign destination, was contained in the two documents submitted by the Nigerian National Petroleum Corporation (NNPC) at the committee’s sitting. While responding to questions from members of the committee, Mr Rabiu Bello, NNPC’s Chief Operating Officer (COO), admitted that there were discrepancies in the documents.

Mr Waziri Adio, Executive Secretary of Nigerian Extractive Industry Transparency Initiative (NEITI), who had accused NNPC and CBN of misleading the ad hoc committee, pleaded to withdraw the earlier documents submitted. He, however, pledged to submit “more damaging documents” on the alleged crude oil theft to the committee on Wednesday “ which will help in unearthing the unremitted revenue accrued from oil and gas but not remitted”.

Speaking earlier, Chairman of the committee, Rep. Abdulrazak Namdas, said that the committee would not hesitate to submit its report to the House without the inputs of major Ministries, Departments and Agencies (MDAs) which failed to honour the committee’s invitation. Toward this, the committee mandated the CBN and NNPC to submit the audited report of the oil and gas account showing the remitted funds into the Federation Account between 2011 and 2014.

 

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