Reps panel to sanction agencies, companies over alleged $60bn inflated cash calls

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The committee said the agencies were involved with vast resources that would have been used to better the lives and livelihoods of Nigerians.

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In December 2023, the House resolved to probe the alleged $60 billion revenue losses due to inflated cash calls by the Nigerian National Petroleum Company Limited Joint Venture agreements.The joint panel, co-chaired by the finance committee chairperson, James Faleke, and petroleum resources committee Chairperson, Alhassan Ado-Doguwa, frowned at the absence of the chief executives of companies and agencies billed to appear before it.

The lawmaker said the agencies were involved with huge amounts of resources that would have been used to better the lives and livelihoods of Nigerians and, hence, must be held accountable.“For those who have not come, there were several companies and agencies that were invited, and it is like they were insensitive to the invitation of this important committee.

Others are Seplat Petroleum, Amini International Petroleum, West Africa Exploration and Production Limited, Walter Smith Petroleum Ltd., and Western Sahara Energy Ltd.

 

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