Reps panel warns NNPC subsidiaries, others over TSA policy
House of Representatives Public Accounts Committee has warned 25 ministries, departments and agencies and 17 subsidiaries of the Nigeria National Petroleum Corporation (NNPC) over alleged breach of the Treasury Single Accounts (TSA) policy.
The committee led by Mr Oluwole Oke, at the weekend, alleged that the NNPC had been using its subsidiaries to operate accounts in commercial banks without the knowledge of the Accountant General of the Federation.
Oke, who described the development as illegal and unlawful, accused the Mele Kyari-led NNPC of shielding its subsidiaries by stopping them from appearing before the committee to respond to queries on alleged financial misdeeds.
The panel chairman insisted that NNPC and all its subsidiaries must appear before the lawmakers to render their financial accounts, threatening to issue warrant of arrest if they fail to adhere to the directive.
The threat came just as the committee ordered about 25 other MDAs to appear before it within seven days over alleged failure to render their accounts within the same time.
The MDAs are Ministry of Finance, Budget and National Planning; Ministry of Interior; Ministry of Works and Housing; Federal Inland Revenue Services; Ministry of Industry, Trade and Investment; Financial Reporting Council of Nigeria; Ministry of Justice and the Nigeria Immigration Service (NIS).
Others include Nigeria Electricity Regulatory Commission; National Library of Nigeria; Fiscal Responsibility Commission; Presidential Amnesty Programme; Standard Organization of Nigeria; Industrial Training Fund; National Lottery Trust Fund; West African Examination Council; Nigerian Football Federation and the North East Development Commission.
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