NNPC subsidiaries get seven-day ultimatum to appear before Reps

Published March 15, 2021

Leke Baiyewu, Abuja

The House of Representatives’ Committee on Public Accounts Committee has issued a seven -day ultimatum to heads of the 17 subsidiaries of the Nigerian National Petroleum Corporation to appear before it or risk being arrested by warrant of the House .
The Office of the Auditor General of the Federation had in its audit queries accused NNPC ’ s subsidiaries of failing to render their audited accounts over the years.
Those with queries against them include the Nigerian Petroleum Development Company Limited , Petroleum Products Marketing Company Limited, Petroleum Products Pricing Regulatory Agency and NNPC Retail Limited, National Petroleum Investment & Management Services .
The committee has been holding investigative hearings on the audit queries issued by the OAUGF against ministries , departments and agencies of the Federal Government .
Repeatedly , the committee had summoned the Group Managing Director , NNPC , Mr Mele Kyari , as well as head of the corporation ’s subsidiaries , asking them to respond to the various audit queries issued by the OAUGF .
The corporation and its subsidiaries were accused of deliberate and reckless refusal to render accounts from 2014 to 2018 , in breach of extant financial regulations in the queries .
The committee had earlier threatened to issue arrest warrants against the heads due to their failure to show up.
Chairman of the committee , Oluwole Oke , while giving issuing the ultimatum due to non- appearance by the managements of the subsidiaries on Friday , threatened that the panel would be forced to issue arrest warrants against the heads .
Oke stated , “ They are to appear before the committee at its investigative hearing on the several audit queries raised against them by the Auditor -General of the Federation over the years. ”
The chairman said the committee just discovered that while all MDAs had been operating on the Treasury Single Account , the NNPC had been using its subsidiaries to operate commercial bank accounts without the knowledge of the Accountant General of the Federation.

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