Senate Probes NNPC

The Senate will soon launch an investigation into the nation's earnings from the sale of crude oil from 2007 to date. But the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mohammed Sanusi Barkindo said at a public function last week that Nigeria has earned $200 billion in the last ten years.

Daily Trust also reports that the NNPC is facing financial crisis which borders on unsettled debts and liabilities. A motion sponsored by Senator Lee Meaba (PDP, Rivers South -East) chairman senate committee on petroleum upstream and 12 others will be debated next week when the lawmakers resume from their one-week recess.

The probe, according to lawmakers has become necessary following the consistent refusal of the Group Managing Director of the NNPC to furnish the upper legislative chamber with the necessary documents containing details of earnings from the sale of crude oil.

Senators also want Barkindo to proceed on casual leave pending the conclusion of investigation so as to prevent him from interfering with the investigation to allow for unhindered access to information.

Maeba alleged that the GMD has consistently refused to respond to queries on three occasions and also refused to furnish it with the report on quarterly basis as provided by the law.

The senators wants Senate to give the committee the legislative mandate and invoke provisions of section 88 of the 1999 constitution to institute a system wide inquest into the financial activities of the corporation from January 2007 to date.

The lawmakers want the committee to investigate the profile of all revenues from all sources accruing to and paid to NNPC including all income statements within the period under review; and allow an investigation into all records of crude oil sales and remittances into the Federation Account or other accounts within the period.

They also want investigation into all contracts and project approvals by the board of the NNPC including Joint Venture contracts as well as all bank lodgments including lodgments into stakeholders' accounts and the Central Bank of Nigeria for the period.

Investigation is also sought on all monies paid the corporation as well as all internal approvals and intra corporation expenditure and audited accounts of the corporation for the period.

Section 88 of the 1999 constitution partly reads, "Subject to the provisions of this Constitution, each House of the National Assembly shall have power by resolution published in its journal or in the Official Gazette of the Government of the Federation to direct or cause to be directed investigation into any matter or thing with respect to which it has power to make laws, the conduct of affairs of any person, authority, ministry or government department charged, or intended to be charged, with the duty of or responsibility for , executing or administering laws enacted by National Assembly."

Senators who have already signed in support of the motion include the Senate Leader, Senator Teslim Folarin, Deputy Leader, Senator Victor Ndoma-Egba and Minority Leader, Senator Maina Ma'aji Lawan.

Others are Senators Kabiru Gaya, Festus Bode Ola, Isiaka Adeleke, Adeleke Mamora, Sidi Ali, Nimi Barigha-Amange, Annie Okonkwo and Simeon Ajibola.