✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live
SPONSOR AD

Reps ask DPR to explain whereabouts of $326.5m oil proceeds

A House of Representatives ad hoc panel has asked the Director of the Department of Petroleum Resources (DPR), Mordecai Baba Ladan, to explain the whereabouts…

A House of Representatives ad hoc panel has asked the Director of the Department of Petroleum Resources (DPR), Mordecai Baba Ladan, to explain the whereabouts of $326.5 million oil proceeds for February to April, 2011.

The panel is investigating alleged $17 billion (about N6trn) stolen from undeclared crude and liquefied natural gas exports between 2011 and 2014.

Chaired by Abdulrazak Namdas, the panel directed Ladan to provide copies of correspondences from the Nigeria National Petroleum Corporation (NNPC) on royalty from 2011 to 2014 tomorrow.

A breakdown of the $326.5m showed that $48.1m was for February, 138.4m for March and $139.9m for April, 2011.

Our correspondent reports that since the committee began its assignment late last year, Ladan has yet to appear before it.

The House had on September 22, 2016 passed a resolution to constitute an ad-hoc committee to probe the matter after adopting a motion by Rep Johnson Agbonayinma (PDP, Edo).

 

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.

UPDATE: Nigerians in Nigeria and those in diaspora can now be paid in US Dollars. Premium domains can earn you as much as $17,000 (₦27 million).


Click here to start earning.