- House of Representatives gave 10 oil firms two weeks to remit the sum of $250 million into federal government's account
- The reps threatened to order the arrest of managing directors of the oil firms if they failed to remit the fund
The House of Representatives has threatened to order the arrest warrants of 10 managing directors of oil firms in Nigeria if they failed to remit the sum of $250 million into the federal government's account.
The House of Representatives committee on oil and gas led by Jerigbe Agom, issued the warning on Wednesday, during a sitting in Lagos state, Premium Times report.
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The affected firms include Aiteo Energy, Neconde Energy, Frontier Energy and seven indigenous oil companies.
The reps berated the company for not willing to remit the fund to the federal government and gave them an ultimatum of two weeks to get the necessary things done.
The reps has also invited Managing Director of the Nigerian Petroleum Development Company (NPDC) to appear before the committee in Abuja on December 19 over Operating Mining Lease (OML) 119, to explain why the block was producing 5,000 barrels in spite of its capacity to deliver beyond.
Agom said the failed to remit $10 million accrued debt in line with the agreement it reached with the Department of Petroleum Resources (DPR).
Agom also accused the NNPC of refusing to honour the committee's invitation.
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Meanwhile, NAIJ.com previously reported that the Following the purported exemption of some special Nigerian National Petroleum Corporation accounts from the Treasury Single Account by President Buhari, the House of Representatives, on Tuesday, December 13, raised questions over the act.
There are reports that accounts, with funds worth N50bn, are still being kept by commercial banks in breach of the TSA policy.
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Source: Naija.ng
ROSY CREST
Thursday, 14 December 2017