…again, summons Emefiele over cash withdrawal limit
MARGARET CHIDERA
The House of Representatives has resolved to constitute an ad-hoc committee to investigate alleged loss of over $2.4 billion revenue from illegal sale of 48 million barrels of crude oil exported in 2015 and external sale of commodity exports from 2014 till date.
The committee is to specifically probe the whistleblowers’ allegations of the illegal sale of 48 million barrels of Nigeria’s Bonny Light crude in China in 2015 and the insurance status of the cargo.
It is also to examine all crude oil exports and sales by Nigeria from 2014 till date, with regards to quantity, insurance, revenue generated, remittances into the Federation accounts or other accounts, as well as utilisation of revenue, for the period under review.
The panel is to investigate all proceeds recovered through the Whistleblowers Policy and level of compliance by the policy and report back to the House, within four weeks for further legislative action.
These resolutions were sequel to the unanimous adoption of a motion moved by Isiaka Ibrahim from Ogun State at plenary on Tuesday.
Moving the motion, Ibrahim said a whistleblower alleged in July 2020 that he had in July 2015, brought to the attention of a committee purportedly set up by the President for the recovery of missing crude oil exports, the existence of 48 million barrels of Nigeria’s Bonny Light crude oil in storage at several ports in China, under the authorisation of the Nigerian National Petroleum Corporation, (NNPC) to sell the cargo.
“The whistleblower claimed that the committee, which comprised very high-ranking officials of the administration and NNPC, some of whom he held meetings with, carried out investigation and confirmed the existence of this cargo, but discovered in October 2015 that the sale of this cargo had been initiated through unofficial channels and the eventual refusal of the committee to honour their agreement to pay 5% value of the cargo in line with terms of the whistleblower policy.”
Ibrahim expressed worry by the allegations that the entire cargo of 48 million barrels of Bonny Light Crude was sold without the proceeds, remitted to the coffers of the country, which translated to a loss of over $2.4 billion, considering the 2015 global average crude oil price of $52 per barrel.
He said: “More than two years after these allegations came to the fore and the uncertainty surrounding the required insurance of these crude exports, it becomes imperative that the House ascertain the actual details of all previous crude exports from Nigeria from 2014 till date with regards to quantity, sale, insurance, revenue generated, payment into the Federation Account and how these proceeds were utilised.”
Meanwhile, the House re-invited the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, to fully brief the parliament on the bank’s recent monetary policies, particularly the cash withdrawal limit.
This is as Emiefele for the second time wrote the House that he will still not be available because he was still occupied with official assignments, outside the country.
The House had through an urgent motion fortnight ago summoned the CBN governor to appear before it last Thursday, over the cash withdrawal limit policy of N100,000 and N500,000 for individuals and organisations respectively.
Emefiele, however, wrote to the Speaker of the House, Rep Femi Gbajabiamila, pledging to brief the lawmakers at an “earliest time possible,” saying he could not be present to brief the lawmakers due to his trip to the United States of America with President Muhammadu Buhari.
He also sent a similar letter to the House, following which it resolved to re-invite the governor on Thursday this week to brief the lawmakers.
Earlier, Minority Leader in the House, Ndudi Elumelu, reminded the House that it had already taken a resolution on the matter, asking that the policy be suspended.
He said what the House should be interested in was the implementation of the resolution and not necessarily the physical appearance of the governor.
Ruling, the speaker, Gbajabiamila said it was necessary that Emefiele or his deputy with required information appears to brief the House as stipulated by the law of the land and the resolution of the parliament, adding that he would want to know the official assignment that had kept the governor away for two weeks now.
