NCSCN Exonerate NNPCL of Corruption Allegations
Editor
In a highly anticipated press conference on Friday, the National Civil Society Council of Nigeria (NCSCN) addressed significant allegations of corruption against the Nigerian National Petroleum Company Limited (NNPCL), and finds it not guilty of any.
Speaking at the press conference the Executive Director, NCSCN, Blessing Akinsolotu, said the Council’s findings showed no verified evidence of corruption at this time against the NNPCL and officially exonerated them of the allegations made against it.
She said the the council’s findings came after extensive investigations into claims of missing funds and financial mismanagement associated with the transition from the Nigerian National Petroleum Corporation (NNPC) to NNPCL.
The NCSCN’s inquiry was spurred by allegations from the Socio-Economic Rights and Accountability Project (SERAP) that NNPCL had failed to account for $2.04 billion and N164 billion in oil revenues. SERAP had previously highlighted these concerns following a 2020 audit report by the Auditor-General of the Federation, prompting legal action against NNPCL.
However, Contrary to these claims, the NCSCN’s investigation revealed that NNPCL, as an entity, did not exist during the period in question. The transition from NNPC to NNPCL occurred only in September 2021, with the company officially unveiling in July 2022.
The records reviewed included the audited accounts of NNPC, which the Council found to be free of verifiable fraud. The NCSCN confirmed that the alleged missing funds could not be substantiated by available audit records.
Further scrutiny addressed accusations of misappropriation in crude oil transactions. The Council’s findings indicated that under the current administration, all oil transaction payments are managed directly by the Central Bank of Nigeria (CBN). Consequently, NNPCL handles operational and administrative tasks without direct involvement in financial management, thereby mitigating the risk of misappropriation.
The NCSCN also stated that while no public institution in Nigeria is entirely free from corruption concerns, the allegations against NNPCL appear to be misrepresentations. The Council attributed some of these allegations to politically and economically motivated efforts aimed at undermining the ongoing reforms within the Petroleum Industry and discrediting the Federal Government.
The Council also criticized certain media and civil society members for exploiting past negative records of the defunct NNPC to target NNPCL’s current management. The NCSCN urged the media to adopt a more professional approach in their reporting, emphasizing investigative journalism and patriotism.
Blessing reiterated the Councils commitment to maintaining vigilance and monitoring the company’s operations to prevent any future misconduct. The NCSCN plans to address these issues in greater detail at the upcoming National Civil Society Conversation on the Petroleum Industry Act (PIA) and NNPCL in August.
