N2.6trn unremitted funds: Reps begin probe of 77 oil firms
…Project fund recovery for debt-servicing — Gbajabiamila
…Threaten arrest of defaulters
By Moses Adeniyi
No less than 77 Oil Companies operating in Nigeria have been slated for probe as the House of Representatives, on Tuesday, commenced an investigative hearing into the sum of N2.6trillion not remitted to the treasury of the Federal Government.
The lower chamber is acting on disclosure of the gaps, following the 2019 report of the Nigeria Extractive Industry Transparency Initiative (NEITI) which figured out the unremitted sum.
The position of the House has maintained that the huge sum demands no less than a stringent investigation which may warrant stiff action of employing state instrument of force, within the confines of law, against any affected party irresponsive to the process of the probe.
Speaker of the House of Representatives, Hon. Femi Gbajabiamila, during plenary on Tuesday, threatened that the parliament might have no option than to invoke the provisions of the Constitution against a company or official who disregard the House on the probe.
According to him, N2.6trillion is too huge a sum to go unaccounted for, particularly at a time when the Federal Government is constrained by revenue shortfalls.
“To underscore the importance of this exercise (probe), let me make a bold statement that if there are companies or individuals that refuse to cooperate with the committee during this exercise, it may be the first time in the 9th Assembly or in the history that I will personally invoke the provisions of the Constitution and have such person arrested. That is how important this exercise is.
“If true, N2.6trillion is not a child’s play; and if it is true, we need to recover that money for the good of the Nigerian people. So, I seek cooperation and plead for cooperation.
“There is direct nexus between revenue generation and infrastructural development. It is also very important and that is why the House, in its wisdom, decided to put in place an ad hoc committee even though there is a standing committee that works directly in this area. I expect that the deliberation will be thorough and interrogate if it is true that the NEITI report is what it is,” the Speaker said.
Chairman of the Committee and Deputy Chief Whip of the House, Hon. Nkeiruka Onyejeocha, who decried why the huge sum was overlooked, said the sum if recovered, would go far in offsetting part of the burdensome debts of the Federal government.
This is just as he emphasised how the sum would help the Government in financing the 2022 Appropriation Act.
He questioned why the defaulters should await NEITI to have them informed before they effect their obligations to the Government.
“The truth has to be told. As we speak, we are looking for money to get the 2022 budget started and, yet, people are owing. Our concern is that such a huge debt is being overlooked.
“If this huge debt is recovered, It can be used to offset the part of government debt because the federal government is owing too.
“People have come up with different solutions on how to stop borrowing and how to make sure that we clear the debt. So, there is no way we can pretend that all is well, while others are pretending as if they don’t have obligation to government.
“So, we see this as a call for action because for those who are knowing, you know that you are owing and do you need NEITI to come up with a report? I agree that we should be objective,” he said.
It was gathered that NEITI, the National Oil Spill Detection and Response Agency (NOSDRA) and the Federal Inland Revenue Service (FIRS), would bear record in the process of the probe by the House of Representatives as relevant Federal Government Agencies.
