Alleged N91trn fraud: NNPC accuses Oil firms of presenting fake documents

Nigeria’s oil company, NNPC, and some oil firms are locked in a battle over an alleged 91 trillion Naira oil fraud.
At the resumed sitting of the House Committee on Petroleum Downstream, the oil companies tendered evidence of transactions, but the NNPC is insisting the documents are not genuine.

After sending three invitations that were not honoured, the lawmakers have now summoned three oil firms over a business deal gone awry.

The petition upon which the lawmakers are acting alleges that NNPC mandated Chinese firm, Hungbohai Petrochemical Industry Limited, to lift 95 trillion metric tonnes of Low Pour Fuel Oil from Nigeria over a period of 35 years from January 2016.

Mahat Oil and Gas Limited, allegedly facilitated the deal on behalf of Hungbohai, while Alkhairi Oil Limited allegedly stood in for NNPC.

Committee chair, Joseph Akinlaja, says the companies cannot be located NNPC in its defense, says the documents tendered by these firms are not genuine.

The Committee insists it will get to the root of the matter and has now summoned Festus Egbuonu, the Nigerian Director of Hungbohai as well as the Heads of Mahata and Alkhairi Oil firms.

The Investigative Panel has adjourned to a date yet to be announced.

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