The House of Representatives has resolved to constitute an ad hoc committee to investigate a whistle-blower’s allegation of illegal sale of 48 million barrels of Nigeria’s Bonny Light crude in China in 2015 and the insurance status of the cargo.
The committee is also to investigate all crude oil exports and sales by Nigeria from 2014 to date, with regards to quantity, insurance, revenue generated, remittances into the Federation Account or other accounts as well as utilisation of the revenue for the period under review.
In addition, the panel will investigate all proceeds recovered through the Whistle-Blowers Policy of the regime led by the President General Muhammadu Buhari and the level of compliance by the policy.
The committee is to report back within four weeks for further legislative action.
These resolutions followed the unanimous adoption of a motion moved by a member of the House, Ibrahim Isiaka, titled ‘Alleged Loss of over $2.4 Billion in Revenue from Illegal Sale of 48 Million Barrels of Crude Oil Export in 2015, Including Crude Oil Exports from 2014 till Date.’
