Lagos lawyer and activist, Festus Keyamo,
has urged the National Assembly to set up
an open probe into alleged massive fraud in
the Nigerian National Petroleum Corporation
(NNPC) regarding the crude oil swap
programme and the offshore processing
agreements.
Keyamo, in a petition jointly addressed to
the Senate President, Bukola Saraki and
House of Representatives Speaker, Yakubu
Dogara, said it was important for the federal
legislators to urgently investigate how
Nigeria was massively defrauded via the two
programmes to the tune of over $50 billion
by some unscrupulous officials of the NNPC
in collusion with some local companies in
the oil and gas sector.
Specifically, the lawyer wants the probe to
be extended to the immediate past Minister
of Petroleum Resources, Deziani Allison-
Madueke and the Managing Director of
NNPC, Tony Moneke.
Others are Executive Director, Commercial,
PPMC, Frank Amejo; Group General Manager,
Crude Oil Marketing Division, Gbenga
Komolafe; former Managing Director of
NPDC, and later NNPC Group Executive
Director, E & P, Abiye Membere and some
private companies in the oil and gas sector.
They are: AITEO that is owned by Mr. Benny
Peters; Sahara Energy owned by Tonye Cole,
Tope Sonubi and Ade Odunsi; Ontario Oil
and Gas owned by Walter Wagbatsoma and
Taleveras founded by Mr. Igho Sanomi.
Keyamo recalled that the crude oil swap was
an arrangement whereby about fifty percent
(50%) of the nation’s daily quota of crude oil
meant for domestic refining and
consumption are given to some local
companies in the oil and gas sector which
then sell the products in the international
market and thereafter import petroleum
products, including derivatives or
byproducts on behalf of the NNPC and PPMC
for sale and distribution in the country.
“For the records, our daily quota of crude oil
for local consumption is about 445,000
barrels. This arrangement was necessitated
by the inability of our local refineries to
operate at their fully installed capacities
which would have been able to refine all the
daily domestic quota of crude oil.
“The Offshore Processing Agreements
(OPAs) involved the allocation of the daily
domestic quota of crude oil to some local
companies in the oil and gas sector. The
companies then take the crude oil to
refineries outside the country, refine them
into petroleum products, including
derivatives or byproducts, and import them
into the country on behalf of the PPMC.
“The colossal fraud in both programmes
have reportedly started and heightened in
recent years. The frauds occur when far less
quantity of petroleum products, byproducts
and derivatives are imported into the
country by the local companies in exchange
for the crude oil allocated to them by the
NNPC.
“The staggering shortfalls in the imported
products are done with the active
connivance, collusion and knowledge of the
officials of the NNPC. The proceeds are, of
course, subsequently shared between the
NNPC officials and these local companies. In
fact, it is reported that a colossal sum of
about $50billion (fifty billion dollars) have
been stolen by these people through these
fraudulent programmes in the last few
years,” Keyamo alleged.
Keyamo said though some of the actors are
already being probed discreetly by the
Economic and Financial Crimes Commission
(EFCC) and the Department of State Security
(DSS), he was concerned that, as usual, the
Nigerian people whom the lawmakers
represent would be perpetually kept in the
dark about these investigations and their
outcome, hence the need for the lawmakers
to launch probe into the matter pursuant to
their powers under Section 88(2)(b) of the
1999 Constitution (as amended).
This, Keyamo said: “is to expose corruption,
inefficiency or waste in the execution or
administration of laws within its legislative
competence and in the disbursement or
administration of funds appropriated by it.”











source:www.dailyindepentnig.com/2015/06/keyamo-seeks-dezianis-probe-alleged-50b-fraud/

While some people that are born-sufferers supported the continuity of impunity in the country, I thank God for saner nigerians who helped with the emergence of PMB.

For no offence, the previous govt almost sold us back into slavery. A continuous scam worth over 50BILLION YANKEE DOLLARS and the perpetrators and their supporters would love to go unpunished? God punish devil!!

Diezani, GEJ and every other person involved in this broad day light robbery must be brought to book! JAIL THEM ALL!!!