A demand was made of the Economic and Financial Crimes Commission (EFCC) to probe the Nigerian National Petroleum Company (NNPC) Limited under the tenure of Mele Kyari, the former Group Chief Executive Officer (GCEO). The Guardians of Democracy and Rule of Law made this call during a protest it embarked at the EFCC Headquarters on Friday in Abuja.
President Bola Ahmed Tinubu on April 2, removed Kyari as the GCEO of the national oil firm and named Bayo Ojulari as his replacement.
Defending the decision, the president cited the need for “enhanced operational efficiency, restoring investor confidence” to make the NNPC more commercially viable.
On April 22, Wale Edun, Minister of Finance and Coordinating minister of the Economy, said a forensic audit of the NNPCL was underway.
Edun said the recent shake-up at the NNPC was part of the government’s efforts to reposition the company for optimal performance, particularly in terms of boosting oil production.
Leading the protest at the EFCC headquarters on Friday, Asika Raymond, who spoke for the demonstrators, said the company’s financial records must be immediately audited.
He said the probe should include the funds allocated for the repairs of all refineries in the country.
Read the group’s petition: “The AKK Pipeline Project, initially valued at $5 billion, has been riddled with irregularities in the award and execution of contracts.
“Despite several budgetary provisions and foreign financing arrangements, there is little physical progress or transparency in fund utilisation.
“There have been repeated allegations of fraud tied to the payment of fuel subsidy. It is instructive to note that while the rest of the world witnessed a decline in fuel consumption in 2020 due to COVID-19, NNPCL increased its imports of petroleum products during the same period”.
Dele Oyewale, Spokesperson for the EFCC, received the petition.
