Reps probe structure, accountability of NNPC JVs, PSCs

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    The House of Representatives says it is investigating the structure and accountability of the joint ventures, JVs, and production sharing contracts, PSCs, of the Nigerian National Petroleum Company, NNPC Ltd.

    Chairman of the ad hoc committee, Hassan Fulata, said that his committee was investigating the Joint Venture Business and Production Contract of the NNPC from 1990 till date.

    Fulata also stated that the probe became imperative as some NNPC accounts did not follow due process.

    He said his committee had discovered some secret accounts owned by the NNPC Ltd., alleging that the Federal Government did not follow due process in opening these accounts.

    However, the Acting Accountant-General of the Federation, AGF, Okolieaboh Sylva, who appeared before the committee on Wednesday in Abuja, denied the government’s knowledge of such secret accounts.

    The Office of the AGF, Total Energy, Shell Petroleum Company and Chevron were all present to answer questions.

    The committee, however, invited other relevant heads of government and corporate agencies and companies such Seplat Oil and Gas and Newcross Oil and Gas to appear before it on September 27.

    The lawmakers insisted they must appear in person, warning that the National Assembly will not hesitate to invoke the relevant constitutional privilege should any of the heads of the companies fail to honour its invitation.

    Energy Frontier reports that the mandate of the committee is to establish whether various joint venture agreements of the NNPC followed due process.

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