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Reps threaten DPR, NAPIMS, PPMC, Chevron CEOs with arrest warrants

The House of Representatives has threatened to issue warrants of arrest on the Director of the Department of Petroleum Resources (DPR) and the Managing Director, National Petroleum Investment Management Services (NAPIMS) over their failure to submit documents to the joint  committees on finance, banking and currency.

 

The joint committee is investigating the alleged $30 billion annual revenue leakages by multinational oil companies.

 

Other companies and agencies whose CEOs also risked being arrested are the PAN Ocean Oil Nigeria Ltd, Statoil Company Ltd, Shell Nigeria Exploration and Production Company Ltd, Pipeline and Product Marketing Company (PPMC), Addax Petroleum Development Company Ltd, Chevron, Sterling Oil Exploration and Heritage Oil Exploration.

 

Chairman of the Committee on Finance, Hon. James Faleke (APC, Lagos) and his Banking and Currency counterpart, Hon. Victor Nwokolo jointly issued the warning on Tuesday in Abuja.

 

Faleke explained that several letters have been written to the aforementioned agencies and organisations which were not honoured.
“According to the chairman, the multinational companies are also accused of tax evasion, malpractices, misuse and diversion of foreign exchange allocations.

 

“The joint committees have given the organisations seven days to furnish the committee with details of documents required or face arrest in line with the constitutional provisions,” they said.

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