The House of Representatives’ Public Accounts Committee recently addressed reports suggesting the Nigeria Upstream Petroleum Regulatory Commission’s involvement in a N32 billion revenue leak and non-compliance with Treasury Single Account rules. The committee, led by Chairman Bamidele Salam, clarified that they have not accused the NUPRC of financial misconduct. Emphasizing their commitment to safeguarding public interests, especially in revenue matters, Bamidele stated that the committee conducts thorough evaluations before drawing conclusions.
Contrary to media reports, the committee did not find a N32.151 billion revenue leak or N909.3 million transferred to private accounts without following TSA protocols in the NUPRC’s records. Bamidele highlighted the committee’s responsibility to thoroughly review sensitive revenue issues before making judgments. NUPRC’s Chief Executive, Gbenga Komolafe, assured the committee of the organization’s compliance with the Petroleum Industry Act of 2021 and provided evidence to refute the allegations.
Komolafe explained that delayed funds were due to specific agreements with the Nigerian National Petroleum Corporation Limited and provided documentation to support the delayed payments. The NUPRC clarified that the reported figures and transactions were sourced directly from the Remita platform, managed through an Enterprise Automated Portal inherited from the Department of Petroleum Resources.