The House of Representatives Committee on Public Petitions has taken a significant step in the ongoing investigation into the oil sector by issuing a warrant of arrest against Central Bank of Nigeria (CBN) Governor Olayemi Cardoso and 17 other individuals. This decision comes as a response to their refusal to appear before the committee to address questions regarding the oil industry. The warrant, executed by the Inspector General of Police, Kayode Egbetokun, mandates their appearance on December 14.
The investigative hearing was prompted by a petition filed by Fidelis Uzowanem, who raised concerns based on the Nigeria Extractive Industries Transparency Initiative (NEITI) report of 2021. According to Uzowanem, the NEITI report uncovered multiple infractions within Nigeria’s oil and gas sector involving collaboration between industry players and government officials.
“We took up the challenge to examine the report and discovered that what NEITI put together as a report is only a consolidation of fraud that has been going on in the oil and gas industry,” explained Uzowanem during the hearing.
The petitioner emphasized that the identified fraudulent activities date back to 2016, and the petition to the committee sought an examination of these irregularities. Uzowanem believes that the recoverable amount identified in the NEITI report could significantly contribute to funding the proposed 2024 budget of N27.5 trillion.
Committee Chairman, Hon. Michael Etaba, expressed dissatisfaction with the refusal of key figures, including the CBN Governor, to attend the sessions, leading to the decision to issue the warrant of arrest. “The warrant was to compel the concerned individuals to appear before the committee to respond to the issues raised in the petition,” clarified Etaba.
The individuals facing arrest include heads of various entities such as the National Petroleum Investment Management Services (NAPIMS), Shell Petroleum Development Company (SPDC), Total Exploration & Producing Nig (TEPN), and others involved in the oil and gas sector.
This development underscores the committee’s commitment to thoroughly investigating the alleged infractions within the industry and holding accountable those who have been implicated.
