Reps Query $2.7bn Deposited In CBN $17bn Undeclared Crude

  Reps Query $2.7bn Deposited In CBN $17bn Undeclared Crude

The House of Representatives  Adhoc Committee investigating the $17 billion allegedly  stolen from undeclared crude oil and liquefied gas sold in the global market has queried  $2.749 billion deposit  paid into the Central Bank of Nigeria (CBN) on behalf of some oil marketers involved in the lifting of crude oil and Liquified Natural Gas (LNG).
Specifically, the committee demanded for details of the $2 billion paid through  a deposit bank into CBN on behalf of some major oil marketers.
Some of the representatives of the International Oil Companies (OICs) and deposit banks who appeared before the Abdulrazak Namdas-led adhoc committee denied  knowledge of the purposes of the payments as contained in the bank statements presented to them.
Unsatisfied by the responses of various stakeholders who appeared before the committee yesterday, Namdas directed the Managing Directors of Addax Petroleum, Sahara Energy, Total Nigeria Plc, Eterna Energy, Chevron and Standard Chattered Bank to appear before the committee tomorrow.
Speaking with the press immediately after yesterday’s investigative hearing by the committee, Namdas stated that the committee may be compelled to invoke relevant sections of the Constitution against erring heads of various agencies and parastatals who failed to honour its invitation.
He alleged that some of the oil marketers only paid Education Tax but failed to remit other requisite taxes including Nigerian Maritime Administration and Safety Agency (NIMASA) levy, the Niger Delta Development Commission (NDDC) levy, among others.
“In the course of our investigations, we realised that most of the companies that made these payments into the CBN account, even when you confront them with the payments they made themselves and we showed them the payments, they are not in the position to tell you an outright yes. They say they are not sure but will get back to you.
“So we expect that if you are in the oil and gas (sector) for several years and you have made some payments within a period of time and you are shown a document, you should be in a position to, at least, confirm.
“Though some confirmed that yes, this is from them, they don’t know what these payments stand for and that is why we are investigating some payments made.
“For example, they will tell you they paid for Petroleum Profit Tax but FIRS will tell you that from their own records, these companies have not paid,” the Committee Chairman said.

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