2 hours ago
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Hon Bamidele Salam
…uncovers over N32bn revenue leakages in NUPRC operations
ABUJA – The Public Accounts Committee (PAC) of the Nigerian House of Representatives has revealed alarming revenue leakages totaling N32.15 billion within the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).
The committee, chaired by Rep. Bamidele Salam, highlighted significant irregularities in the revenue generated for the federal government between 2015 and 2022, as documented in NUPRC’s submitted report.
During the committee’s recent session, it was disclosed that N909 million had been transferred directly into private accounts within Deposit Money Banks, bypassing the Treasury Single Account (TSA) protocols, a violation of government financial policy aimed at curbing fraud and mismanagement.
Further investigations uncovered discrepancies amounting to N15.47 billion in transactions listed in Remita, the federal government’s payment gateway, which were missing from NUPRC’s data. Similarly, N6.33 billion recorded by NUPRC did not appear in Remita, raising questions about the integrity of financial records.
Also, inconsistencies were noted in transaction values, with N388 million reported lower in NUPRC’s records and N909 million reported higher in Remita’s records, adding to concerns about data accuracy and transparency.
As a result of these findings, the committee has summoned NUPRC’s Chief Executive Officer, Engr. Gbenga Komolafe, and other key officials to appear before them next Monday to address these infractions.
The PAC has called for a comprehensive investigation, citing a lack of financial transparency and compliance within the NUPRC, and urging immediate corrective action to ensure accountability in government revenue management.
