By Gloria Ikibah
The House of Representatives has called for a thorough investigation into the alarming financial irregularities by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).
The House had in an investigative hearing held on Thursday uncovered N32,151,775,466.87 revenue leakages in the document submitted by NUPRC on revenue generated for federal government between 2015 to 2022.
The Chairman, Public Accounts Committee (PAC) Rep. Bamidele Salam, during an investigative hearing with NUPRC expressed concerns about the reported revenue leakages and non-compliance with standard operating procedures.
The committee also discovered that N909,392,169.74 had been transferred directly to private accounts in Deposit Money Banks without adhering to TSA protocols.
The probe also focused on significant discrepancies, which includes N15,476,269,397.10 in transactions listed in Remita that were absent from the NUPRC data set, and N6,332,212,384.25 in transactions from the NUPRC data set that did not appear in Remita.
Additionally, there were notable value discrepancies in transactions between Remita and NUPRC, with N388,103,353.31 reported lower and N909,392,169.74 reported higher in Remita.
In light of these findings, the committee unanimously ordered Engr. Gbenga Komolafe, the Chief Executive Officer of NUPRC, along with other officials, to appear before them next Monday to explain the discovered infractions.
These developments raised concerns about financial management and transparency within the NUPRC, prompting the committee to call for a thorough investigation into these alarming irregularities.