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Reps summon Magu, Emefiele, NNPC boss over allegedly stolen $17b oil money

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Undeclared Crude Oil Probe - House Of Reps Investigates Missing $17 Billion
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The House of Representatives Ad hoc Committee probing $17 billion undeclared oil proceeds has summoned several top government functionaries to appear before the panel today.
The Chairman of the committee, Abdulrazak Namdas, listed those to be summoned, which included the acting Chairman of Economic and Financial Crimes Commission (EFCC) Ibrahim
Magu at the opening of the investigation in Abuja yesterday where all the invited stakeholders sent their subordinates to represent the committee.

The panel also summoned by the ad hoc committee were the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru; and Central Bank of Nigeria (CBN) Governor Godwin Emefiele.

Others were Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Dakuku Peterside; and Accountant General of the Federation, Mr. Ahmed Idris.
The committee also summoned the Group General Manager, National Petroleum Investment Management Services (NAPIMS), Mr. Stephen Sejebor and Director of the Department of Petroleum Resources (DPR), Mr. Modecai Ladan, in connection with the stolen fund.

Namdas, who is also the spokesman of the House, noted that since the nation lives by oil proceeds, no fight against corruption could be meaningful without serious searchlight on the industry.

He warned that the House would not hesitate to invoke its constitutional powers to compel the invited chief executives to appear, if they default. He yesterday turned back directors and other management staff who were sent as representatives of their respective organisations.

Namdas said 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.



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