The House of Representatives Joint Committee on Finance and Petroleum Resources (Upstream) has issued a stern warning to oil companies that are not cooperating with its ongoing investigation into a $60 billion cash call discrepancy involving the Nigerian National Petroleum Company Limited (NNPC) and its Joint Venture Agreements.
The committee, led by James Faleke (Chairman of Finance) and Alhassan Ado-Doguwa (Chairman of Petroleum Resources), has expressed frustration over the absence of key executives from the companies and agencies called to testify. The few representatives who did attend the hearings were criticized for not providing satisfactory explanations.
Co-Chairman Ado-Doguwa voiced the committee’s displeasure, emphasizing the importance of the investigation. “For those who have not come because there were several companies and agencies that were invited and it’s like they were insensitive to the invitation of this important committee, this is unacceptable,” he stated.
Ado-Doguwa further stressed that the committee would use all legal means to ensure compliance. “For those who chose to disregard what the parliament is doing here, this committee would not take it lightly with anyone or institution who wants to undermine the constitutional powers of this important hearing to investigate the affairs of public finance of this great country, Nigeria.”
The committee is prepared to take strong actions against those who continue to ignore the investigation. Ado-Doguwa noted that they might invoke legal measures to compel appearances, reinforcing that the committee would not tolerate any disregard for its authority, especially in cases involving substantial financial resources that could benefit Nigerians.
He directed the committee clerk to identify and list companies that failed to comply with the summons without valid reasons. “Myself and all members of the committee are of the view that we would be compelled going forward to invoke and also create any means possible to use the available instrumentalities of law to make sure that whoever is invited appears and if any of them decide not to appear, then, at the end, we will be compelled to use the instrumentalities of the law around us to compel appearance.”
The companies and agencies under scrutiny include Total Exploration, Shell Petroleum, Agip, Chevron, Oando, Mobil, Pan Ocean, Erotton, Belema, First Exploration, New Cross Exploration, Seplat Petroleum, Amini International Petroleum, West Africa Exploration and Production Limited, Walter Smith Petroleum Limited, ND Western Limited, Sahara Energy Limited, First Hydrocarbon Nigeria Limited, Neconde Energy Limited, Elcrest Exploration and Production Limited, and Shoreline Natural Resources Limited.
