Crude oil swap probe: Reps summon Alison-Madueke

alison

The House of Representatives ad hoc committee on Crude Oil Swap on Monday issued formal invitation to former Minister of Petroleum Resources, Diezani Alison-Madueke to appear before the committee on March 2 to explain her role in the alleged multi billion naira fraud in crude oil swap arrangements managed by the Nigerian National Petroleum Corporation, NNPC.
The committee in a letter dated February 22 and signed by Chairman of the adhoc committee Honourable Zakari Mohammed route its summon through the Group Managing Director of Nigerian National Petroleum Corporation, NNPC.

According to the letter, the committee asked the former minister to appear with all relevant documents that will assist the committee in its investigative hearing.

The former minister is expected to appear before the committee with a full brief on all swap arrangements, a proof of Federal Executive Council, FEC approval, NNPC board resolution on the crude oil swap contract, evidence of the approval limit of the board and that of the minister of petroleum and the GMD.

The lawmakers also asked her to bring any other relevant documents that could assist the committee and the proof to extend a contract that had expired and not yet renewed.

It will be recalled that former Group Managing Director (GMD) of the NNPC, Mr Joseph Dawha disclosed that the corporation operated the multi billion naira crude oil swap deal after it was expired before he assumed office.

He also absolved himself of blames over the flawed crude oil swap deal arrangement, stressing that, NNPC entered into crude oil swap deal and Offshore Processing Agreement (OPA) contracts with the trading companies in 2010 to terminate between 2013 and 2014.

Also former Group Managing Director, (GMD), of NNPC, Mr Austin Oniwon had also told the Committee that NNPC resolved to embrace the crude oil swap agreement was as a result of huge debt of over $3billion it incurred.

He equally disclosed that the crude oil swap arrangement did not begin with him as there was an oil swap agreement between the country and the Kingdom of Saudi Arabia entered into in 1989.

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