As the federal government intensifies the fight against corruption, the House of Representatives yesterday directed the Nigerian National Petroleum Corporation (NNPC) to provide details of the multiple accounts operated by the agency.
The Adhoc Committee investigating the $17 billion undeclared crude exported to global destinations, which gave this directive, also queried the where-abouts of 47,366,887 barrels of crude lifted.
The Ad-hoc Committee led by Hon Abdulrazak Namdas, asked the agency to provide the multiple accounts operated before the introduction of Treasury Single Account (TSA) and also expressed concern on the barrel differential in the documents submitted to it by NNPC, Department of Petroleum Resources (DPR), Nigeria Customs Service (NCS), NIMASA and Nigerian Navy on the crude oil lifted.
According to This Day, this directive on the multiple accounts, according to the committee, is to enable the lawmakers to ascertain and determine the actual amount accrued from the sale of crude oil and payments into Federation Account and the level of compliance with extant financial regulations.
According to the documents submitted to the Ad-hoc Committee, 13 oil companies over lifted 7,423,266 barrels of crude in 2011 while 18 companies over lifted 20,367,803 barrels of crude in 2012.
Confirming that OICs paid directly into the CBN Petroleum Profit Tax FIRS account and also expressing concern over NNPC denial of the account, Namdas noted that Shell Petroleum specifically paid over $2 billion into the account as BO/Shell/NNPC in 2012.
Expressing concern over this development, the Committee queried the Corporation for failing to give details of the money paid into the Petroleum Profit Tax account on behalf of Federal Inland Revenue Service (FIRS); the sum of $8.8 billion accrued from 80,069,372 barrels of crude which the Corporation claimed that SPDC lifted as well as the disparity between NNPC and DPR records on crude lifted by Star Deepwater, SNEPCO and Total Upstream.
Reacting to the allegations, NNPC’s General Manager, Finance Crude Oil and Marketing Division, Chris Akamairo, explained that no operator can pay cash call into the account directly.
On the barrels lifted, NNPC’s Acting Chief Operating Officer (Upstream), Roland Ewubare, said that the differentials are not realistic, adding that the 43,348,571 barrels for 2011 is 73 cargoes.