NASS, Abuja
An ad hoc committee of the House of Representatives on Sunday
accused the Department of Petroleum Resources and the Central Bank of
Nigeria of keeping $950m in a secret domiciliary account from 2011 and
2014 as against remitting the money into the Federation Account.
The committee, which is chaired by a member of the All Progressives
Congress from Adamawa State, Mr. Abdulrazak Namdas, is investigating
the alleged $17bn crude and gas resources stolen from Nigeria between
2011 and 2014 .
The DPR was also accused of failing to declare a separate $70.648m .
The committee threatened to issue an arrest warrant against the management of the agency for ignoring its invitations.
The panel said while the DPR’s official account for the remittance
of royalties was with JP Morgan, a second account with the Federal
Reserve Bank of New York was uncovered.
Namdas stated that when the Nigerian National Petroleum Corporation was queried over the account, it confirmed its existence.
For instance, the committee said $10.2m was received in April 2011 by the DPR and CBN as royalties from Moni Pulo.
Namdas, however, said only $3.425m was paid into the Federation Account, while $6.853m was reportedly diverted.
“In June 2011, rentals were received from Compile, but the DPR
and the CBN credited the Federation Account with only $121.263m, thereby
diverting $10.157m.
“In April 2012, the sum of $44.770m received by the DPR and the
CBN was not credited to the Federation Account; while in September
2012, the sum of $38.842m paid by Chevron as royalty was not credited to
the Federation Account as same was deducted under the cover of refund
to Philip’s Oil.
“In October 2012, all payments received through the Federal
Reserve Bank, estimated at over $200m, were not credited to the
Federation Account.”
Speaking further, Namdas recounted how in April 2013, the DPR and
CBN paid $117.583m out of $281.750m into the the Federation Account,
implying that another $164,167m was diverted.
He added, “In August 2013, the DPR allegedly diverted the sum
of $242.715m from revenue accruable to the Federation Account and in
March 2014, the DPR and the CBN concealed over $300m.”
According to the committee, the money kept in secret by the agencies between May and July 2014 was $450m.
However, an Assistant Director, DPR, Mr. Adewole Johnson-Makanju;
and the Manager, Planning, Mrs. Comfort Ajayi, who made a submission to
the committee, claimed that the problem started when some oil companies
continued to remit money into the Federal Reserve Bank account after
February 2011 even though they were duly notified that JP Morgan Chase
was now officially holding the domiciliary account.
They also claimed that there was no fraud intended or committed as
the CBN regularly mopped up the money and reconciled the figures.
But, not satisfied with the explanation, the panel gave the DPR
director the next sitting date to appear before the committee, else a
warrant for his arrest would be issued.
Namdas warned, “I am still insisting that the DPR director must
appear in our next meeting. I am also expressing disappointment that
the director has never appeared before us.”
The House had by its resolution in December 2016, ordered the probe
after a motion by a member, Mr. Johnson Agbonayinma, established
evidence of “fraudulent transactions and irregularities” in crude and gas exports within the period under review.
Part of the information at the disposal of the committee put the
figure of undeclared crude shortfalls between 2011 and 2014 at
57,830,000 barrels.
“This translates to well over $12bn worth of crude shipped to the United States.
“Also, over $3bn worth was shipped to China and $839,522,600 worth of crude was taken to Norway.
“These figures were conclusively ascertained by buyers, bill of
lading, arrival dates, destination ports, quantity of crude oil and
other documented information,” the document stated.
The US was listed as the leading destination for the crude out of
the 51 countries that received crude exports from Nigeria within the
period.
“The report was made available to the former President
(Goodluck Jonathan); Office of the Attorney General of the Federation;
Nigeria Maritime Administration and Safety Agency; and the Economic and
Financial Crimes Commission, and that as of today (2016), the country
has to its credit, over $17bn of recoverable shortfalls from undeclared
crude oil exports to global destinations,” it added.
In the case of liquefied natural gas shortfalls, the document noted
a loss of 727,460 metric tonnes, estimated at about $461,044m, firmly
established shortfall from shipment to seven countries.
“These have been established as undeclared cargoes,” the document added.
Source: PUNCH
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