Oil swap deal: Reps invite Diezani

Posted by admin Headlines, House, Legislature, Oil Politics Tuesday, February 23rd, 2016

Oil swap deal: Reps invite Diezani
From Kemi Yesufu, Abuja

The House of Representatives adhoc Committee investigating the controversial crude oil swap deal yesterday formally invited former Minister of Petroleum Resources, Diezani Alison-Madueke to clarify her role in the agreement between the Federal Government and some oil companies.
In a letter dated February 22 and signed by the Chairman, Zakari Mohammed, the committee directed the former minister to appear before it on March 2. The letter was sent through the Group Managing Director of Nigerian National Petroleum Corporation (NNPC)
The invitation followed the disclosure by a former Group Managing Director (GMD) of the NNPC, Joseph Dawha that he inherited the crude oil for products exchange (oil swap) deal.
Dawah, who appeared at the hearing of the adhoc committee, said the NNPC entered into the deal and the Offshore Processing Agreement (OPA) contracts with the trading companies in 2010 to terminate between 2013 and 2014, adding that Mrs. Alison-Madueke only approved the renewal of the contracts in August 2014, months after it had expired.
Absolving himself of blame like two of his predecessors, Dawha, the last GMD of the NNPC under the former minister, also told the committee how he migrated the corporation from crude oil deals to OPA, denying that he played a role in the flawed deal.
In the letter, the committee requested Alison-Madueke to appear before it with all relevant documents that will assist members in their investigation.
The papers requested include a full brief on oil swap arrangements, a proof of Federal Executive Council (FEC) approval, NNPC board resolution on the deal as well as evidence of the approval limit of the board and that of the minister and GMD.

-Sunwp_posts