The Guardians of Democracy and Rule of Law has asked 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).
On April 2, President Bola Tinubu 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, the minister of finance and coordinating minister of the economy, said a forensic audit of the NNPL was underway.
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Edun said the recent shake-up at the NNPC is part of the government’s efforts to reposition the company for optimal performance, particularly in terms of boosting oil production.
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Leading a protest at the EFCC headquarters on Friday, Asika Raymond, who spoke for the demonstrators, said the company’s financial records must be immediately audited.
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Asika said the probe should include the funds allocated for the repairs of all refineries in the country.
“The AKK Pipeline Project, initially valued at $5 billion, has been riddled with irregularities in the award and execution of contracts,” the petition reads.
“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, NNPCL increased its imports of petroleum products during the same period.”
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Dele Oyewale, the spokesperson for the EFCC, received the petition.
