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CNPP urges Tinubu to suspend top NNPCL management over allegedly missing $15 billion and N200 billion in oil revenues

Sep 27, 2023 | Politics | 0 comments

The Conference of Nigeria Political Parties (CNPP) has responded to the Socio-Economic Rights and Accountability Project (SERAP) call for President Bola Tinubu to suspend the top management team of Nigerian National Petroleum Corporation Limited (NNPCL) to investigate the $15bn and N200bn missing oil revenues.

On Sunday, SERAP urged Tinubu to establish a presidential panel of inquiry to investigate the grim allegations that over $15 billion in oil revenues and N200 billion budgeted to repair refineries were missing and unaccounted for between 2020 and 2021, as documented by the Nigeria Extractive Industries Transparency Initiative (NEITI).

In a statement signed by its Deputy National Publicity Secretary, James Ezema, shared with African Examiner in Enugu Monday, CNPP said it had “in June 2022 noted that the unveiling of the new NNPC Limited by then President Muhammadu Buhari amounted to rebranding corruption.”

“CNPP wondered why the inept leadership that has imported petroleum products into the country without building a refinery for eight years should remain on the management team of the so-called new NNPCL.

The CNPP stated that the transition from Nigerian National Petroleum Corporation to NNPC Limited included rebranding team management perceived by Nigerians as corrupt.

The CNPP accused the then-NNPC of manipulating figures when Mele Kyari, the Group CEO of NNPCL, announced that the corporation’s profit after tax increased from N287bn in 2020 to N674bn in 2021.

4 Oct 2021.

NEITI found $15bn and N200bn seemingly stolen around the same time.

We join SERAP in calling on President Bola Ahmed Tinubu to immediately suspend the current top management of NNPCL and institute an open investigation into allegations of missing $15 billion in oil revenues, N200 billion budgeted to repair refineries, and several accusations of non-remittance of oil revenues against NNPC, now NNPCL.

The statement concluded that the probe should cover NNPC/NNPCL activities from 2015 to the present since President Muhammadu Buhari recovered stolen oil money under President Goodluck Jonathan.

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