CNPP Calls For Independent Inquiry Into NNPC Accounts


The Conference of Nigerian Political Parties, CNPP, has called for an independent inquiry into the accounts of the Nigerian National Petroleum Corporation, NNPC, from 1999 to 2013.

CNPP said an independent audit of the corporation’s books become necessary  in order to stop the revenue leakages and to save the nation and its democracy from further harm.

A statement by its Publicity Secretary, Mr. Osita Okechukwu issued on Sunday said, “a transparent audit trail by an Independent Inquiry, without prejudice to the Petroleum Industry Bill, which from all indications has been kept in view, will ventilate the fouled atmosphere in the industry.”

This according to the group, was without prejudice to the ongoing public hearing by the Markafi led finance committee of the senate probing allegations of corruption made against the corporation by the governor of Central Bank of Nigeria, Mr. Lamido Sanusi.

Mr. Sanusi had last Wednesday at the hearing insisted that the NNPC did not remit $20 billion to the Federation Account,faulting the corporation’s claims that the discrepancies in the figure was due to yet to be reconciled payment for Kerosine subsidy.

The corporation has denied the allegations accusing Sanusi of misinforming the public by crying foul where none exists.

The CNPP said: “It is our considered view that the 2015 general elections will be free, fair and more transparent, if President Jonathan can muster the political will to clean the Augean Stable in the NNPC, since the inception of our democracy or even his regime.”

The group argued that, “Without sounding alarmist, the drums of war from several quarters and do-or-die attitude, as we approach 2015 general elections seem to echo and revolve around who signs the oil signature.”

It said the disclosure from the Governor of Central Bank who constitutionally is the authorized economic adviser to Mr President, cannot be dismissed with a wave of hand no matter how inaccurate his figures might be.

CNPP argued that the missing link was the accuracy of Mr. Sanusi’s figures and not the absence of rot in the NNPC, which according to it, the Independent Inquiry would be mandated to unravel and cleanse for posterity.

It said, “For example, can we dismiss his allegation that NNPC’s claim of expending $8.49b in paying subsidy is doubtful? More so after NNPC had officially earlier reported not making deduction for fuel April 2012 and 2013 and when the National Assembly duly appropriated first N888b and secondly Supplementary Budget of over N100b in 2012 for fuel subsidy,” it further argued.

“Secondly, can anyone uphold the sanctity of the Strategic Alliance Agreement between Nigerian Petroleum Development Company, NPDC, an arm of the NNPC and Atlantic Energy and Seven Energy?

“Thirdly, is the sustenance of the so called late General Abacha $10 per barrel- sealing of Production Sharing Contract {PSC} formula of deep offshore Oil Wells not questionable? For Nigerians would wish to know why only $10 per barrel is paid into the Federation Account, even when Crude Oil sells for over $100 per barrel. What a grave injustice to Nigerians? Or do we page with Asiwaju Bola Tinubu, that NNPC is ATM of the PDP-led Federal Government?”

According to CNPP, ” Mr. Jonathan handlers might feel threatened from theircomfort zone if he embarked on independent inquiry into the accounts of the NNPC in the last 14 years, the president should, however, remember the oath of office he took and convoke the Inquiry to clear his name.”

CNPP said the president’s failure to do so would mean that he would come into the coming to 2015 presidential election with less than transparent records, adding “for the avoidance of doubt, the regime will be remembered as Jonathan’s regime not in any minister’s name.”