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Reps summon 17 NNPC subsidiaries over mismanagement of trillions of naira (Full List)


The Group Managing Director of Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has been directed by the House of Representatives to present the heads of its subsidiaries.

A letter to Kyari, dated March 16, 2022, from the Chairman of the House Committee on Public Accounts, Oluwole Oke, demanded the presence of all the managing directors and accounting officers of the 17 subsidiaries under NNPC.

The summon from the lawmakers follows audit queries against the subsidiaries and the government-controlled oil firm, which involved allegations of mismanagement of public funds summed into several trillions of naira between 2014 to 2019.

Names of the affected NNPC subsidiaries

The affected subsidiaries are; Duke Oil Company Inc, Nigerian Petroleum Development Company Limited, Pipeline and Products Marketing Company Limited, Nigeria Gas Company, and National Engineering and Technical Company.

Also on the list are West Africa Gas Limited, Hyson (Nigeria) Limited, Petroleum Products Pricing Regulatory Agency, Port Harcourt Refining Company, and National Petroleum Investment & Management Services.

The legislature also listed NNPC Retail Limited, Integrated Data Service Limited, Nidas Marine Limited, Kaduna Refining, National Petroleum Exchange, and Petrochemical Company Limited, Warri Refining and Petrochemical Company, and NNPC Pensions Limited.

House accuses NNPC of shielding subsidiaries, sets new dates

Last week Tuesday, during the House investigative hearing, which had representative of the Group Managing Director, Mele Kyari, the Chief Financial Officer of the NNPC Limited, Umar Ajiya, present, the lawmakers accused the state-run firm of shielding the heads of the subsidiaries.

In the new summon, the committee set different dates for the subsidiaries to honour the invite to the House, with West Africa Gas Limited, Nigerian Petroleum Development Company Limited, Nidas Marine Limited, Pipeline and Products Marketing Company Limited, Kaduna Refining and Petrochemical Company Limited, and Duke Oil Company Inc slated for March 23, 2022.

Read also: Reps seek automatic employment for first-class graduates in Nigeria

Heads of Warri Refining and Petrochemical Company, Hyson (Nigeria) Limited, National Petroleum Exchange, NNPC Pensions Limited, National Engineering and Technical Company, and Nigeria Gas Company were scheduled for March 24, 2022.

While NNPC Retail Limited, Integrated Data Service Limited, Petroleum Products Pricing Regulatory Agency, National Petroleum Investment & Management Services, and Port Harcourt Refining Company are billed to appear on March 25, 2022.

On their visit to the lower chamber, the heads of the subsidiaries were directed to provide 2015 to 2021 audited accounts in compliance with Financial Regulation No, 3210(v).

The lawmakers also demanded that the 17 subsidiaries come along with proof that the Office of the Auditor-General for the Federation had received the copies of the audited accounts.

The committee also said in line with the constitutional checks conducted based on Section 85(4) of the Nigerian Constitution, the aforementioned parties should provide evidence defending their non-cooperation.

The post Reps summon 17 NNPC subsidiaries over mismanagement of trillions of naira (Full List) appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.


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32 CommentsDrop a Comment
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    - May 10, 2022 at 4:10 am

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    - Mar 21, 2022 at 1:15 pm

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    - Mar 21, 2022 at 9:19 am

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