The House of Representatives Committee on Public Accounts has initiated investigative proceedings into alleged financial irregularities totaling over ₦802.19 billion involving the Nigerian National Petroleum Company Limited (NNPCL) and the Independent National Electoral Commission (INEC).
Concurrently, the Committee has issued a final seven-day ultimatum to the HydroCarbon Pollution Remediation Project (HYPREP) to account for queries exceeding ₦400 billion.
The legislative interventions stem from findings detailed in the Auditor-General for the Federation’s (AuGF) reports spanning the 2021, 2022, and 2023 financial years, which highlighted procedural non-compliance, statutory fund non-remittances, and procurement breaches across the federal entities.
Key details from the House investigations include:
- Examination of 2021–2023 financial audits involving ₦83.66 billion allegedly warehoused in a sinking fund account, ₦82.95 billion in unauthorized deductions from Federation revenue, and a ₦3.75 billion shortfall from petroleum product sales.
- Review of 2022 and 2023 audit queries concerning procurement compliance, contractor payments, non-remittance of statutory deductions, and spending transactions dating back to the 2019 general elections.
- Following four unhonored summons, the Committee directed HYPREP’s Programme Coordinator and the Chairman of the Board of Trustees, Ogoni Remediation Trust Fund, to appear by Monday, October 12, 2026. Specific queries address unsubmitted financial statements (2017–2021), contract irregularities ($2.1 million), unverified consultancy payments (₦986 million), and unauthorized legal fees (₦31.8 million).
Speaking on the probe, Committee Chairman Rep. Bamidele Salam (Ede North/Ede South/Ejigbo/Egbedore Federal Constituency) underscored that the House is acting pursuant to Sections 85, 88, and 89 of the 1999 Constitution (as amended) and Order 20, Rule 6 of the House Rules to safeguard public revenue and enforce fiscal compliance.
In a related development, civil society organization Human Rights Writers Association of Nigeria (HURIWA) issued a statement calling on the Federal Government and NNPCL to ensure complete transparency regarding ₦11.2 trillion in oil-backed loan facilities involving 340 million barrels of future crude reserves.
