House of Reps Committee on Insurance & Actuarial Matters, has issued a 10-day ultimatum to the Group Managing Director of the NNPC, Mele Kyari to appear before it over a $100m premium allegedly paid by the NNPC and Joint Ventures (JVs) for non-existing assets overseas.
Rep. Darlington Nwokocha, Chairman of the Committee who flagged off and presided over the 10-day investigative hearing/pre-forensic Audit meeting that began sitting on Monday issued the ultimatum after the NNPC boss failed to appear before it.
He explained that the exercise was necessitated by alleged breaches on insurance by insurance business by practitioners; low retention capacity of dollar-denominated insurance business and the effect on the economy; and under-utilisation of capacity of insurance policy, the practice and effects of domiciling insurance ventures abroad.
Nwokocha explained that after the pre-forensic meeting, the Committee would deploy Forensic Auditors to NNPC and all the MDAs as well as insurance companies and brokers handling the portfolios.
“And we cannot do magic to get these information because already we have enough information from everywhere but we must compare what we have with what you are bringing; what the insurance companies will bring, what the NNPC will bring, and what the larger society has brought, so that we give everybody fair hearing.
“And this is not something we are talking about and some people are taking it so lightly that they are doing some other businesses here and there. We cannot tolerate that. When we invite you for any reason you are not here, we will compel you to come; we have the mechanism, we have the instrumentality to drive the process to make sure that you will come.
“It won’t work, we must summon you to come, definitely and we don’t want to get to that level,” Nwokocha said.
Earlier, Mr. Umar Ajia, Chief Financial Officer of Nigerian National Petroleum Corporation, explained that the NNPC Group Managing Director, Mr. Mele Kyari could not attend the investigative hearing because he needs to hold meeting with associations of oil workers, namely Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).
Rep. Nwokocha in his ruling issued a 10-day ultimatum to the NNPC Group Managing Director to appear with relevant documents and take into cognizance all the inadequacies in the previous documents submitted to the Committee.
He said all the stakeholders are to re-appear before the Committee on the 31st August, 2020.
Dafena
August 18, 2020 at 5:54 pm
Nigerians should ignored house of rep calling for NNPC $100m probe and the 10days ultimatum given,National assembly and the judiciary is responsible for all the frauds in Nigeria and in all government parastatals,whenever anyone steal ,they hide under the canopy of NASS probe,,while these members of Senate and reps collect their percentages,these executive thieves are best friends to those professional thieves at NASS who advice and give them all ideas to steal in order to get their commission,if you steal #100billion naira all you do is to give 50% to NASS to shared and your case is closed and carpet under ground. Rep,you don’t have anything to probe,you are the main thieves,even the unborn baby knows that you are the thieves,don’t deceived your self further convid19 will judge you all, wicked groups of evil people,what is the result of NDDC probe,what is the result of ikoyi $43million dollar probe,what is the result of kashuku $25billion stole at NNPC submittedd to Mr President,what is the result of maina and Diezani probe,you all are just group of professional executive thieves in the name of NASs probe,wicked people.