Reps Committee Uncovers Over N32bn Revenue Leakage at NUPRC
By Juliet Vincent
The Public Accounts Committee (PAC) of the House of Representatives revealed a N32,151,775,466.87 revenue leakages at the document submitted by Nigeria Upstream Petroleum Regulatory Commission (NUPRC) on revenue generated for federal government between 2015 to 2022.
During a session chaired by Rep. Bamidele Salam, the committee expressed serious concerns regarding reported revenue leakages and non-compliance with standard operating procedures.
Among the findings, it was discovered that N909,392,169.74 had been transferred directly to private accounts in Deposit Money Banks without adhering to TSA protocols.
The investigation also highlighted significant discrepancies, including N15,476,269,397.10 in transactions listed in Remita that were absent from the NUPRC data set, and N6,332,212,384.25 in transactions from the NUPRC data set that did not appear in Remita.
Additionally, there were notable value discrepancies in transactions between Remita and NUPRC, with N388,103,353.31 reported lower and N909,392,169.74 reported higher in Remita.
According to the Committee, the discovered infractions raise serious concerns about financial management and transparency within the NUPRC which prompted the committee to call for a thorough investigation into the irregularities.
In light of the findings, the Committee ordered the Chief Executive Officer of NUPRC, Engr. Gbenga Komolafe to appear along with other officials of the organisation before the Committee next Monday to explain the discovered infractions.