Reps give CBN, others ultimatum to account for $22.6bn oil blocs

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THE House of Representatives Ad-hoc Committee on Oil Prospecting Licences, OPLs, and Oil Mining Leases, OMLs, yesterday, gave the Central Bank of Nigeria, CBN, and others one week ultimatum to provide all relevant documents to ascertain the payments of about $22.6 billion oil blocs from application fees, royalties, signature bonuses and other fees by oil companies.


The Gideon Gwani-led committee was set up by the House to investigate the award of all OPLs and OMLs by the Federal Government to ascertain whether due process and guidelines for the acquisition of oil and gas assets were complied with. The committee had in its inaugural sitting last week summoned the Accountant General of the Federation, Mr Ahmed Idris and the management of Department of Petroleum Resources, DPR, to appear before it yesterday, to account for the whereabouts of $22.6 billion oil blocs.


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