News
Account for missing $2.04bn, N164bn oil revenues in seven days — SERAP tells NNPC Ltd
Socio-Economic Rights and Accountability Project (SERAP) has urged Mr Mele Kolo Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited to “promptly account for and explain the whereabouts of the alleged missing USD$2.04 billion and N164 billion oil revenues” within seven days.
SERAP said the allegations are documented in the latest annual report recently published by the Auditor-General of the Federation.
SERAP urged Mr Kyari “to name and shame those responsible for the disappeared oil money, surcharge them for the full amount involved, and hand them over to appropriate anticorruption agencies, as provided for under paragraph 3112(ii) of the Financial Regulations 2009, and recommended by the Auditor-General.”
SERAP also urged him “to ensure the full recovery and remittance of the missing USD$2.04 billion and N164 billion into the Federation Account without further delay.”
In the letter dated 17 February 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said, “The missing oil revenues have further damaged the already precarious economy in the country and contributed to very high levels of deficit spending by the government.”
SERAP said, “Without the full recovery and remittance of the missing USD$2.04 billion and N164 billion oil revenues, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services
According to SERAP, “the Auditor-General has for many years documented reports of disappearance of public funds from the NNPC. Nigerians continue to bear the brunt of these missing oil revenues.”
The letter read in part: “The alleged missing oil revenues reflect a failure of NNPCL accountability more generally and are directly linked to the institution’s continuing failure to uphold the principles of transparency and accountability.”
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel the NNPCL to comply with our requests in the public interest.
“Had the NNPCL and its subsidiaries accounted for and remitted the disappeared public funds into the Federation Account, it is likely that more funds would have been allocated to the fulfillment of economic and social rights, such as increased spending on public goods and services.
“The missing oil revenues have also impeded Nigerians’ ability to enjoy their economic and social rights, and denied them access to essential public goods and services, especially at the time of cost of living crisis in the country.
“Explaining the whereabouts of the missing public funds, naming and shaming those suspected to be responsible and ensuring that suspected perpetrators are brought to justice and the full recovery of any missing public funds would serve the public interest and end the impunity of perpetrators.
“Nigerians have the right to know the whereabouts of the disappeared oil money. Ensuring transparency and accountability in the management of oil revenues would advance the right of Nigerians to restitution, compensation and guarantee of non-repetition.
“According to the recently published 2020 audited report by the Auditor General of the Federation (AGF), the Nigerian National Petroleum Corporation (NNPC) failed to remit over USD$2 billion and N164 billion oil revenues into the Federation Account.
“The Auditor-General fears that the money may have been diverted into private pockets, denying the government the funding needed to carry out its activities.
“The NNPCL reportedly failed and/or refused to remit N151,121,999,966. The NNPCL without any justification deducted the money from the oil royalties assessed for 2020 by the Department of Petroleum Resources (DPR) now Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
“The NNPCL has failed to account for the missing public funds. The Auditor-General wants the money recovered and remitted into the Federation Account.
“The NNPCL also failed to remit USD$19,774,488.15 collected as government revenue into the Federation Account. The Auditor-General wants the NNPCL to account for the money, recover and remit it into the Federation Account, and to hand over those suspected to be involved to the ICPC and the EFCC.
“The Nigerian Petroleum Development Company (NPDC) Ltd also reportedly failed to account for USD$2,021,411,877.47 and N13,313,565,786.49 of royalties collected from crude oil and gas sales and gas flare.
“The Auditor-General wants the public funds fully recovered and remitted into the Federation Account and for those suspected to be responsible for the missing public funds to be handed over to the ICPC and the EFCC.
“These grim allegations by the Auditor-General suggest a grave violation of the public trust and the provisions of the Nigerian Constitution 1999 [as amended], national anti corruption laws, and the country’s obligations under the UN Convention against Corruption.
“The allegations have undermined the economic development of the country, trapped the majority of Nigerians in poverty and deprived them of opportunities.
“SERAP is concerned that despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the entrenched culture of impunity of perpetrators.
“Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.
“SERAP notes that Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions to abolish all corrupt practices and abuse of power.
“Section 16(2) of the Nigerian Constitution further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.’
“Section 13 of the Nigerian Constitution 1999 [as amended] imposes clear responsibility on the NNPCL to conform to, observe and apply the provisions of Chapter 2 of the constitution.
“Paragraph 3112(ii) of the he Financial Regulations 2009 provides that, ‘Where a public officer fails to account for government revenue, such officer shall be surcharged for the full amount involved and such officer shall be handled over to either the Economic and Financial Crimes Commission (EFCC) or the Independent Corrupt Practices and Other Related Offences Commission (ICPC).’
“Nigeria has made legally binding commitments under the UN Convention against Corruption to ensure accountability in the management of public resources. Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the NNPCL to ensure proper management of public affairs and public funds. These commitments ought to be fully upheld and respected.”
Gov. Douye Diri of Bayelsa has set up a committee to work out modalities for implementation of a new minimum wage for workers in the state’s civil service.
The committee is headed by Secretary to the State Government, Prof. Nimibofa Ayawei.
Other members included the Head of Service, Mrs Biobelemoye Charles-Onyeama, the Commissioner for Finance, Maxwell Ebibai, his Labour, Productivity and Employment counterpart, Ebiuwou Koku-Obiyai and the Chief of Staff, Government House, Mr Peter Akpe.
The committee has the end of May 2024 to submit its report.
Diri made the pronouncement on Wednesday at the 2024 Workers Day celebration at the Peace Park in Yenagoa.
The governor assured that his administration would implement a new minimum wage once the committee submitted its report, adding that the state workers always have emoluments as their federal counterparts.
Diri stressed that the welfare of workers had always been a top priority of his administration as attested to by the numerous worker-friendly policies he initiated.
He equally promised to commence the building of a new befitting secretariat complex for civil servants to accommodate the increasing workforce.
The state’s helmsman, who described workers as the backbone of development in society, attributed the achievements in his first tenure to the support and contributions of civil servants.
He called for continuous harmonious working relationship with his government in order to bequeath lasting legacies.
The Bayelsa helmsman also approved an annual step increment for civil servants, release of funds for completion of the state secretariat of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).
“The committee is to immediately look into what the Federal Government has done on the proposed minimum wage and see the possibility of domesticating it in Bayelsa.
“It is given until the end of May to submit its report.
“My dear workers of Bayelsa, you have done so well. You know that you are the engine room of this government. We have succeeded because you have done so well. We receive commendations everywhere we go.
“In terms of infrastructure, human capacity building and other sectors, we have done well. I say you should continue to keep it up.”
According to him, together, we are building a Bayelsa of our dreams, a beacon of hope, a model of progress and a testament to our unity of purpose.
“The tangible evidence of these fruitful collaborations is that abundantly, we have made it clear for all to see in the plethora of transformative legacy projects that now span the length and breadth of our state, touching the lives of all Bayelsa people.
“Let us continue to work together so that the future of our state will be established.
“Beyond the ongoing renovation, we will look at the option of building a new state-of-the-art secretariat complex to accommodate the expanding workforce,” he said.
Earlier, the workers eulogised the governor for his labour-friendly policies that had improved their working condition.
In a joint address by the chairman of the NLC, Comrade Barnabas Simon, and his TUC counterpart, Comrade Laye Julius, the workers specifically thanked the governor for approving payment of wage award to all categories of workers in Bayelsa.
“We thank you for the regular conduct of promotion exercises and implementation, prompt payment of salaries of workers and pensioners, among others.
“Organised labour in Bayelsa is most sincerely grateful for your kind and favourable disposition to the needs and aspirations of workers in the state.
“Your open-door policies and swift response to most of our demands in the last four years is highly appreciated,” they said.
They, however, appealed for an upward review of the wage award, improved transportation system for workers, and mapping out of acquired lands for civil servants.
Minister of Works, Dave Umahi has said the Group Chief Executive Officer and founder of The Landmark Group, Paul Onwuanibe, cannot claim compensation from the Federal Government in connection with the demolition of structures for the Lagos-Calabar Coastal Highway.
The Federal Government is currently demolishing properties along the shoreline to create a pathway for the Lagos-Calabar Coastal Highway.
The Landmark Group, owners of the Landmark beach in Lagos State, is believed to be one of the organisations that will be highly affected by the demolition.
However, Umahi has insisted that infrastructures belonging to Landmark were spared, hence the owner can’t make claims on the Federal Government.
Addressing journalists, the minister said the beach was on the right of way and shoreline.
He said: “No claim for Landmark, we spared all his infrastructure, we don’t pay for the demolition of shanties because it is on our right-of-way, 15 meters from the shoreline, so he has no claim.
“We made all efforts to spare his infrastructure. The Landmark owner is acting like a politician, me I’m an engineer.
“While he does all the politics, I am an engineer, I’ll do the engineering work. I don’t know the attention he is seeking.”
Diri sets up committee on new minimum wage
2027: Bode George, other Lagos PDP leaders hold reconciliation meeting ,seek strong, united party chapter
Gov. Sani unveils N500m loans scheme for workers
Rt.briscoe, FBNH, Others halts negative performance of stock market
Court orders Sen. Victor Umeh to repay N136m bank debt to AMCON
UNDP, FG partnership needed to achieve inclusion, equity- Minister
-
capital market2 years ago
Rt.briscoe, FBNH, Others halts negative performance of stock market
-
Finance3 months ago
Court orders Sen. Victor Umeh to repay N136m bank debt to AMCON
-
Abuja Update2 months agoUNDP, FG partnership needed to achieve inclusion, equity- Minister
-
Abuja Update1 month ago
Banks drive stock market performance with N147bn gain
-
Business1 week ago
Tingo Group unveils Tingo Electric, Tingo Cola drink at Lagos launch
-
Health2 weeks ago
Capacity training will reduce migration of health workers- NPHCDA
-
News4 months ago
Oil thieves sponsoring malicious media campaign against Navy – Spokesman
-
Infotech1 month ago
World Backup Day: NITDA urges Nigerians to ensure backup of data
