News
SERAP drags NNPCL court over alleged missing $2.04bn, N164bn oil revenues
The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Nigerian National Petroleum Company Limited over the “failure to account for and explain the whereabouts of the alleged missing $2.04 billion and N164 billion oil revenues.”
This, according to SERAP, followed the allegations documented in the recently published 2020 audited report by the Auditor-General of the Federation that the NNPC; failed to remit the money into the Federation Account, saying that the money may have been diverted.
This was disclosed in a statement signed by the Deputy Director of SERAP, Kolawole Oluwadare.
In the suit number FHC/ABJ/CS/549/2024 filed last Friday at the Federal High Court in Abuja, SERAP is seeking “an order of mandamus to direct and compel the NNPC to account for and explain the whereabouts of the missing USD$2.04 billion and N164 billion oil revenues, as documented in a report by the Auditor-General.”
In the statement, SERAP urged the NNPCL to “hand over suspected perpetrators to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) for investigation and prosecution,” and “ensure the full recovery and remittance” of the missing funds into the Federation Account.
The organisation noted that the failure to account for the missing oil revenues reflects the nation’s oil giant’s “continuing failure to uphold the principles of transparency and accountability,” adding that it’s a “grave violation of the provisions of the Nigerian Constitution 1999 [as amended],” among others.
SERAP condemned the missing oil revenues, lamenting that “had the NNPCL and its subsidiaries accounted for and remitted the disappeared public funds into the Federation Account, it is likely that more funds would have been allocated to the fulfillment of economic and social rights of Nigerians, such as increased spending on public goods and services.
The missing oil revenues have also impeded Nigerians’ ability to enjoy their economic and social rights, and denied them access to essential public goods and services, especially at the time of cost of living crisis in the country.”
In the suit, SERAP is arguing that “there is a legitimate public interest in providing the details sought. The NNPC has a legal responsibility to account for and explain the whereabouts of the disappeared money.
“Without the full recovery and remittance of the missing USD$2.04 billion and N164 billion oil revenues, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services.”
According to SERAP, the Auditor-General of the Federation “has, for many years, documented reports of the disappearance of public funds from the NNPC,” while the AGF “fears that the money may have been diverted into private pockets, denying the government the funding needed to carry out its activities.
“The NNPCL reportedly failed and/or refused to remit N151,121,999,966. The NNPCL without any justification deducted the money from the oil royalties assessed for 2020 by the Department of Petroleum Resources (DPR) now the Nigerian Upstream Petroleum Regulatory Commission (NUPRC),” among others.
No date has been fixed for the hearing of the suit.
Punch
By Gloria Ikibah
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited(NNPCL), Mele Kyari, is expected to present the corporation’s position on the tax reform bills before the House of Representatives on Thursday.
Naijablitznews.com reports that Kyari had attended the public hearing on the Tax Reform Bills organised by the House Committee on Finance on Wednesday, but was asked to postpone his presentation.
The Committee Chairman, Rep. James Faleke had directed the suspension after confirming that amendments had been made to Kyari’s memorandum.
As a result, the NNPCL chief will now present the company’s position on Thursday.
By Kayode Sanni-Arewa
Abdullahi Umar Ganduje, the National Chairman of the All Progressives Congress (APC), has disclosed that the party’s National Working Committee (NWC) under his leadership, inherited a debt burden of N8.9 billion.
Ganduje revealed this in Abuja while speaking at the ongoing National Executive Committee (NEC) meeting of the APC
According to him, the expenses incurred during pre-election legal battles, election cases, and appeals for legislative, governorship, and presidential elections
The current NWC inherited debts and legal liabilities to the total tune of N8,987,874,663, arising from various legal engagements,” he stated.
He, however, noted that Prof. Abdul Kareem Kana (SAN), the National Legal Adviser, has been working to reduce the debt burden.
“We still passionately appeal to the National Executive Committee to intervene accordingly,” he pleaded.
The meeting was attended by President Bola Ahmed Tinubu; Vice President Kashim Shettima; Senate President Godswill Akpabio; Speaker of the House of Representatives, Tajudeen Abbas; state governors; NWC members; and other party chieftains.
By Kayode Sanni-Arewa
Justice Rahman Oshodi of the Ikeja Special Offences Court in Lagos has rejected the request to step down from the ongoing trial of Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).
Emefiele is facing 19 counts bordering on abuse of office, receiving gratification, and corrupt demands, brought against him by the Economic and Financial Crimes Commission (EFCC).
During Monday’s court proceedings, Olalekan Ojo, counsel for Godwin Emefiele, orally requested that Justice Rahman Oshodi should recuse himself from the trial on the grounds of alleged bias.
The request specifically followed a dispute that arose while the seventh prosecution witness, John Adetola, was testifying.
Rotimi Oyedepo, SAN, the EFCC’s counsel, was cross examining Adetola’s testimony and referenced an earlier statement in which Adetola claimed he received a bribe from John Ayoh and delivered it to Emefiele at his office.
Oyedepo then asked Adetola to verify a WhatsApp message from Eric Odoh, which had been extracted from his phone by EFCC investigators.
Ojo had objected, arguing that the document was only for identification and had not yet been formally accepted as an exhibit.
The defence had contended that the witness should not read or comment on the document at that point.
The court overruled the objection, citing section 224 of the Evidence Act, which allows for leading questions on introductory or undisputed matters.
Dissatisfied with the ruling, the defence declined to cross-examine the witness and instead filed a motion for the judge to recuse himself from the case.
On Wednesday, Justice Oshodi delivered his ruling, stating that after reviewing the arguments and legal authorities presented, the request lacked merit and was therefore dismissed. [With The Witness report]
Kyari to Present NNPCL’s Position Thursday On Tax Reform Bills
“I met debt overhang of N8.9bn, says APC Chairman, Ganduje
Emefiele: Judge turns down request to withdraw from trial
Just in: Terrorists ambush military truck, kill all soldiers on board
Nigerian Dancer, Korra Obidi Attacked with acid, stabbed on stage In UK
Meet Rare Gem 16 Years Old Chiaza, CEO of ‘RUN MARKET PLACE’
-
News22 hours agoNigerian Professional Footballer Abubakar Lawal Dies in Uganda
-
Sports21 hours agoChelsea emphatic win against Southampton gives them hope of top four finish
-
Metro17 hours agoSHOCKING! Auto crash claims lives of groom, bride’s sister
-
News22 hours agoSouth-East Caucus Urges NAFDAC to Reopen Onitsha Medicine Market, Target Offenders
-
News12 hours agoCitizenship for sale as Trump announces “Gold Card” Immigration Plan, $5M
-
News22 hours agoUnrelenting Senator Natasha drags Akpabio to court, demands N1.3bn for alleged defamation
-
News23 hours agoReps Push for National Security Trust Fund to Boost Intelligence Funding
-
News12 hours agoSAD! Lady Loses 3-Year-Old Son Hours After Allowing Father Take Him for Weekend Visit