The House of Representatives Committee on Public Accounts Committee (PAC) has uncovered N32,151,775,466.87 revenue leakages in the document submitted by Nigeria Upstream Petroleum Regulatory Commission (NUPRC) on revenue generated for the federal government between 2015 to 2022.
To this end, the committee has called for a thorough investigation into the financial irregularities and management in NUPRC.
The committee, during a session chaired by Hon. Bamidele Salam expressed serious concerns regarding reported revenue leakages and non-compliance with standard operating procedures.
The committee’s findings revealed that the sum of N909,392,169.74 had been transferred directly to private accounts in Deposit Money Banks without adhering to Treasury Single Account (TSA) protocols.
It further 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.
The committee also uncovered discrepancies in transactions between Remita and NUPRC, with N388,103,353.31 reported lower and N909,392,169.74 reported higher in Remita.
Against this background, the committee directed the Chief Executive Officer of NUPRC, Gbenga Komolafe, along with other officials, to appear before it next Monday to explain the infractions.
Adedayo Akinwale
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