24 October 2011
As governors of the 36 states of the federation meet today to discuss the withdrawal of N250 billion from the Federation Account by the Nigerian National Petroleum Corporation (NNPC) and the Petroleum Products Pricing and Regulation Authority (PPPRA) in the September allocation, the House of Representatives will tomorrow commence investigations into the withdrawal of N450 billion by the NNPC and PPPRA in the August allocations.
Accordingly, the House
's Joint Investigation Committee (JIC) comprising of the House Committee on Finance and the Committees on Petroleum (Upstream and Downstream) and Gas will investigate the activities of the NNPC, PPPRA and all other agencies under the Federal Ministry of Petroleum.
The JIC is under the Chairman of the House of Representatives Committee on Finance, Hon. Abduallmuni Jibrin.
An insider in the JIC told THISDAY that the investigation would seek to unearth why the NNPC and the PPPRA unilaterally withdrew funds from the Federation Accounts and Allocations Committee (FAAC) without due approval from the relevant quarters, especially the National Assembly.