House of Representatives has concluded plans to investigate the alleged loss of over $2.4 billion in revenue accruing from the illegal sale of 48 million barrels of crude oil export from 2014 till date.
To this end, the House resolved to constitute an ad-hoc committee to investigate the whistleblower`s allegations on the illegal sale of 48 million barrels of Nigeria’s Bonny Light crude in China in 2015 and the insurance status of the cargo.
The resolution was passed sequel to the adoption of a motion sponsored by Hon. Isiaka Ibrahim.
In his lead debate, Ibrahim who called for the House intervention stressed the need to recover the fund in line with extant laws.
“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 authorization 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...
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