MISSING $17bn: Reps summon Magu, NNPC boss, CBN gov, others

Committee of the House of Representatives investigating alleged $17billion stolen from undeclared oil proceeds has summoned the acting chairman of the Economic and Financial Crimes Commission, Ibrahim Magu to appear before it on Tuesday.

Summoned along Magu is the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, Central Bank of Nigeria governor, Godwin Emefiele, Director-general of Nigerian Maritime Administration and Safety Agency, Dakuku Peterside and Accountant General of the Federation, Ahmed Idris.

Also summoned by the committee is the Group General Manager, National Petroleum Investment Management Services (NAPIMS), Stephen Sejebor and director of the Department of Petroleum Resources, Modecai Ladan.

The chairman of the committee, Abdulrazak Namdas, summoned them on Monday in Abuja during the opening of the investigation that saw all the invited stakeholders represented by their subordinates.

The summon is sequel to the commencement of investigation into the alleged $17billion stolen from undeclared crude oil and liquefied natural gas exports to global destinations.

Namdas said at the occasion that Nigeria lived by oil proceeds and there was no way fight against corruption could amount to something meaningful without serious probe of oil sector.

“This is especially when the perpetrators are high and mighty who inexorably are the models the society looks up to” he said, and warned that House was not going to dilly-dally to invoke its constitutional powers to constrain the invited chief executives to appear, if they default.

Namdas then asked the directors and other management staff sent to represent their respective organisations to return back.

The committee chairman had, in his opening remarks earlier, disclosed that more than 57million barrels of crude oil were illicitly exported and sold in the U.S. between January 2011 and December 2014.

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