The Public Accounts Committee (PAC) of the House of Representatives said it has uncovered revenue leakages of over N32 billion at the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).
Chairman of the committee, Rep Bamidele Salam (Osun), said the leakages were uncovered after careful examinations of documents submitted by the agency in respect of revenues generated for the federal government between 2015 and 2022.
The committee, during its session at the National Assembly, expressed concerns regarding reported revenue leakages and non-compliance with standard operating procedures.
Among the committee’s findings, it was discovered that N909,392,169.74 had been transferred directly to private accounts in Deposit Money Banks without adhering to TSA protocols.
- THE BEARING: Are Givers Starting To Lack As The Economy Bites Harder?
- Customs Seize N71.7m Worth of Petrol, Goods from Smugglers in Adamawa
The investigation also highlighted significant discrepancies, including N15,476,269,397.10 in transactions listed in Remita that were absent from the NUPRC data set, and N6,332,212,384.25 in transactions from the NUPRC data set that did not appear in Remita.
Additionally, there were notable value discrepancies in transactions between Remita and NUPRC, with N388,103,353.31 reported lower and N909,392,169.74 reported higher in Remita.
Following the findings, the committee has unanimously ordered Engr. Gbenga Komolafe, the Chief Executive Officer of NUPRC, along with other officials, to appear before it next Monday to explain the discovered infractions.
The committee said the findings raise serious concerns about financial management and transparency within the NUPRC, hence the need to call for a thorough investigation into “these alarming irregularities.”
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
