NNPC Probe Begins As Buhari Sacks Board

As you would have heard by now, President Muhammadu Buhari has dissolved the Board of the Nigerian National Petroleum Corporation with immediate effect.

The announcement was made in a statement by the Director Communications, Office of Head of Civil Service of the Federation, Alhaji Haruna Imrana, on behalf of the HoS, Mr. Danladi Kifasi.

The directive to that effect was conveyed in a letter signed on Friday June 26, 2015 by the Head of the Civil Service of the Federation, Danladi Kifasi.

Buhari has finally commenced the process of ascertaining the roles played by each big man in NNPC.

The NNPC is the state-run oil company which oversees Nigeria’s oil and gas industry. It’s board is statutorily headed by the minister of petroleum resources.

The corporation regulates the oil and gas sector, and also operates as a joint venture partner representing the government in deals with oil multinationals.

The NNPC has in recent years been accused of large scale corruption, the latest being the alleged disappearance of between $12 and $20 billion oil money.

An independent audit ordered by the Nigerian government in 2014 concluded that the corporation has an outstanding $1.48 billion to pay to the government.

The NNPC has yet to make the payment several months after the release of the audit report.

The audit was sequel to the complaint forwarded to former President Goodluck Jonathan by the former Central Bank Governor Sanusi Lamido Sanusi. His report was followed up by a letter signed by Deputy Governor, Corporate Services, Suleiman Barau and addressed to the Senate Committee on Public Account with ref: NASS/S/CPAC/017 dated 19th November, 2013 called attention to unremitted oil money amounting to $49.8 billion by the NNPC.

Meet the Sacked Board Members of the NNPC
Dr. Joseph T. Dawha
Mr. Bernard O.N. Otti
Dr. Dan Efebo
Alhaji Abdullahi Bukar
Danladi Kifasi
Stephen Osagiede Oronsaye
Ikechukwu Oguine
Also on the board were Mr. Danladi Wadzani and Prof. Olusegun Okunnu as members.

Share this PostPin ThisShare on TumblrShare on Google PlusEmail This