The house of representatives has resolved to set up an ad hoc committee to investigate a whistleblower’s claims that 48 million barrels of Bonny Light crude was illegally sold in China in 2015, as well as the insurance status of the cargo.
The resolution, on Tuesday, followed the adoption of a motion moved by Ibrahim Isiaka, a member of the house.
The alleged sale reportedly led to a loss of $2.4 billion in revenue.
In the motion, Isiaka said: “The house is aware of allegations by a whistleblower in July 2020 that he had in July 2015 and in response to the current administration’s whistleblower policy brought to the attention of a committee purportedly set up by the President for the recovery of missing crude oil exports, the existence of 48 million barrels of Nigeria’s Bonny Light crude oil in storage at several ports in China ostensibly under the authorisation of the Nigerian National Petroleum Corporation (NNPC) and the intention of parties in China and the NNPC to sell this cargo.
“The house is also aware that the whistleblower claimed that the committee, which comprised very high-ranking officials of the administration and NNPC, some of whom he held meetings with, carried out an investigation and confirmed the existence of this cargo, but he discovered in October 2015 that the sale of this cargo had been initiated through unofficial channels…and the eventual refusal of the committee to honour their agreement to pay 5 percent value of the cargo in line with the terms...
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