Reps uncover over N32.152bn revenue leakage

The House of Representatives has issued a 96-hour ultimatum to the Chief Executive Officer of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Engineer Gbenga Komolafe, over allegations concerning revenue leakages totaling N32,151,775,466.87 accrued to the coffers of the Commission on behalf of the Federal Government between 2015 and 2022.

Speaking during the investigative hearing on Thursday, Chairman of the House Committee on Public Accounts, Hon. Bamidele Salam, expressed grave concerns regarding reported revenue leakages and non-compliance with standard operating procedures.

During the review of the documents submitted to the Committee, the lawmakers alleged that the sum of N909,392,169.74 had been transferred directly to private accounts held with Deposit Money Banks without adhering to TSA protocols.

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The investigation also highlighted significant discrepancies, including N15,476,269,397.10 in transactions listed in Remita that were absent from the NUPRC data set, as well as the sum of N6,332,212,384.25 in transactions from the NUPRC data set that did not appear in Remita.

Additionally, there were notable value discrepancies in transactions between Remita and NUPRC, with N388,103,353.31 reported lower and N909,392,169.74 reported higher in Remita.

In light of these findings, the committee unanimously ordered Engr. Gbenga Komolafe, the Chief Executive Officer of NUPRC, along with other officials, to appear before them on Monday, October 28, 2024, to explain the alleged infractions.

Some lawmakers who spoke during the session underscored the need to ensure effective financial management and transparency within the NUPRC and called for a thorough investigation into these alarming irregularities.

NIGERIAN TRIBUNE