Senate to investigate NNPC, Nigerian Agip Oil Company IPP Security Account


The senate has directed its committee on Public Accounts to carry out a holistic investigation into the activities of the operation of the Nigerian National Petroleum Corporation NNPC, Nigerian Agip oil company IPP security account.


The need for the investigation was brought up by Kogi state senator Dino Melaye, who alleged that an account with the name NNPC/Nigerian Agip Oil Company IPP Security account with address NNPC Garki, Herbert Macaulay Way is domiciled with First Bank Nigeria Plc with account number 2006367288.


According to Mr. Melaye, the opening balance was N31, 704, 807, 979.2, with a closing balance of N34, 423, 738, 086.4 as at 25th April 2017. He also said he was aware that there had been lodgments and withdrawals in the account since January 2017.


He said it was pertinent to unravel the objectives of the account, the signatories to the account, as well as the sources of funds for the account.


The senate’s public account committee has been given four weeks to complete a holistic investigation and report back to the senate.


Photo Credit: TheWill