Crude Contract: NNPC Gets Fresh Deadline On Presidential Approval

The face-off between the House of Representatives and the Nigerian National Petroleum Corporation over the controversial 445,000 crude oil swap contracts is not yet over.
The PUNCH gathered on Wednesday that the ad hoc committee of the House investigating the deals had issued a fresh January 2016 deadline to the corporation to produce evidence of the presidential approval and the NNPC’s board resolutions that authorised the transactions.
Findings by The PUNCH showed that the latest directive came following the failure of the corporation to comply with two similar directives issued by the committee between November and earlier this month.
The swap transactions involved the exchange of crude oil for refined petroleum products in which the corporation gave out 445,000 barrels of crude daily to trading companies.
Efforts by the committee, which is chaired by an All Progressives Congress lawmaker from Kwara State, Mr. Zakari Mohammed, to conduct a public hearing on the transactions since November had been stalled due to the alleged “unwillingness of the NNPC to cooperate with the committee.”
One committee official disclosed to The PUNCH on Wednesday that the corporation so far made available documents on contract agreements and shipments, but not the presidential approval and the board resolutions.“The NNPC had carried out many transactions in the past and they would boldly tell you they were directed by Mr. President.
“In this particular case (crude swap deals), we have been asking for the evidence of the presidential approval or even the board resolutions, and they have not produced any.
“They keep coming up with one excuse or another,” the official stated.
It will be recalled that on December 8, Mohammed had complained bitterly that the corporation had not made available the Presidential approval.
He had said, “They have not submitted the evidence of the approvals.
“But, I will tell you that as a committee, we are not deterred. The investigation has to go on; whether they submit the presidential approval or not.
“We are analysing the documents before us and we are going to open the public hearing before the House will adjourn for the Christmas break.”
The PUNCH observed that the House had since adjourned for the Christmas break, but there was no public hearing, as assured by the committee.





Check the Daily Independent newspaper for the full story.
































Comments

Post a Comment

Popular posts from this blog

10 World Most Eloquent People

Image
Only the eloquent can adequately describe eloquence. It includes articulation, a mellifluous tone of voice and poise under pressure. To be eloquent is to speak well in a persuasive and deeply thoughtful way. Though it appears to come easily, eloquence does not often come naturally. The most talented speakers often have training in rhetoric and behavioral psychology. Here are 10 great examples of eloquent speakers who have made their mark on the world. 1. Martin Luther King, Jr “I Have a Dream” is perhaps the most powerful speech in American history. In poetic, unequivocal language, he explains how people can live up to their ideals for the sake of their children. 2. Abraham Lincoln In a speech only two minutes long, Lincoln explained the moral justification for the Civil War in his Gettysburg Address. 3. Winston Churchill In a few short years Churchill transformed himself from a burly, unemployed, failed novelist to a leader of the free world with ...
Read more

St. Finbaar’s College, Akoka wins the annual Helmbridge Science Challenge for secondary schools in Lagos State.

St. Finbarr’s College Akoka, Lagos at the weekend won the annual Helmbridge Science Challenge for secondary schools in Lagos State. The school in a six-week-long competition defeated May Day College and Topgrade Secondary School, Surulere in the preliminaries to qualify for the final. The Akoka boys who walked-over Penny International College Coker, the defending champions, for late coming, went into sporadic jubilation on their victory. The News Agency of Nigeria, NAN reports that 16 schools participated in the competition, including Yaba College of Technology Secondary School, St. Finbaar’s College, Penny Internatinal College, Shining Lord’s Secondary and Technical School. Others are St. Michael’s Anglican College, Jubilee Model Grammar school, Fountain Heights Secondary School, St. Gregory’s College and St. Jude’s Private Secondary School. Also in the competition are Methodist Boys’ High School, Birch Freeman High School, Community Senior Grammar School and ABS College. ...
Read more

BIAFRA: IPOB, MASSOB shut down markets, Uwazuruike expelled

Image
  Visit Late Odumegwu Ojukwu’s house to seek his blessing Uwazuruike expelled, Madu takes over as MASSOB leader Forget Biafra, secession —Nwabueze Over seven thousands members of the Indigenous People of Biafra, IPOB, yesterday,   shut   down markets and all commercial activities in Nnewi, Anambra State in solidarity protest for the release of the Director of Radio Biafra, Mr. Nnamdi Kanu, who has been incarcerated by  the Directorate of State Services, DSS, for over one month. Members of the IPOB mobilized from Onitsha, Asaba, Awka, Ekwulobia, Awka-Etiti, Enugu, Imo, Ebonyi and Abia states, converged at  Nnewi from where they marched to the house of the late Ikemba Nnewi, Dim Chukwuemeka Odumegwu Ojukwu to ask for his blessing even in death. This came as constitutional lawyer and leader of eminent group of Nigerians, The Patriots , Professor Ben Nwabueze (SAN),  admonished  the  groups to have a re-think over th...
Read more