The House of Representatives Joint Committee on Finance and Petroleum Resources (Upstream) has threatened to sanction agencies and companies that failed to appear for the investigation into the loss of $60 billion by the federal government due to inflated cash calls by the Nigerian National Petroleum Company Ltd. (NNPCL) Joint Venture Agreements.
At the resumed investigative hearing on Monday in Abuja, the joint panel, co-chaired by Rep. James Faleke, Chairman of the Finance Committee, and Rep. Alhassan Ado-Doguwa, Chairman of the Petroleum Resources Committee, expressed their dissatisfaction with the absence of the chief executives of the invited companies and agencies. They criticized the inadequate presentations by those who did attend and condemned the practice of sending representatives instead of the principals.
Rep. Ado-Doguwa emphasized that the committee would not tolerate any attempts to undermine the constitutional authority of the parliament. He stated that the committee would use all legal means available to ensure that the invited parties appear, highlighting the importance of accountability in managing resources that could significantly improve the lives of Nigerians.
The companies and agencies involved in the probe include Total Exploration, Shell Petroleum, Agip, Chevron, Oando, Mobil, Pan Ocean, Erotton, Belema, First Exploration, New Cross Exploration, Seplat Petroleum, Amini International Petroleum, West Africa Exploration and Production Limited, Walter Smith Petroleum Ltd., and Western Sahara Energy Ltd.