House of Representatives Summons Emefiele, Kachikwu Over Alleged Diversion oF Foreign Exchange

The House of Representatives on Thursday summoned the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, and the Minister of State for Petroleum Resources, Dr Ibe Kachikwu to explain issues over alleged diversion of foreign exchange by some oil marketers between 2016 and 2017.

They are to appear alongside Chief of Naval Staff Ibok-Ete Ibas, Chief Executive Officers of Keystone Bank and Zenith Bank, on Monday, April 7.

The House ad hoc Committee on the Review of Petroleum Pump Price, which issued the summons, said some of those invited had connection with the allocation of foreign exchange to oil marketers.

The Chairman of the Committee, Rep. Nnanna Igbokwe, also urged the Inspector-General of Police, Mr Ibrahim Idris, to determine the whereabouts of Mr Andrew Alagu, the Managing Director of HAR Petroleum Resources Ltd, by March 27.

“The invitation is to determine the involvement of the company in alleged diversion of 26 million dollars for importation of Premium Motor Spirit (PMS) under the Direct Sale Direct Purchase (DSDP) arrangement of the Nigerian National Petroleum Corporation (NNPC),’’ Igbokwe said.

He said that the committee disregarded a letter from HAR Petroleum Resources Ltd absolving itself from engaging in importing the product and could not have sourced for and accessed foreign exchange from CBN.

According to Igbokwe, documents provided by Crude Oil Marketing Department of the NNPC confirm the company’s participation in the business.

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