The Public Accounts Committee (PAC) of the House of Representatives has reported revenue leakages exceeding N32 billion within the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).
According to PAC Chairman Rep. Bamidele Salam (Osun), the leakages were identified following a thorough review of documents provided by the agency regarding revenues generated for the federal government from 2015 to 2022.
During its session at the National Assembly, the committee voiced concerns over revenue leakages and non-compliance with established procedures.
Among its findings, the committee discovered that N909,392,169.74 had been transferred directly to private accounts in Deposit Money Banks without adherence to TSA (Treasury Single Account) protocols.
The investigation further revealed significant inconsistencies: N15,476,269,397.10 worth of transactions appeared in Remita records but were missing from NUPRC’s data set, while N6,332,212,384.25 in NUPRC transactions were absent from Remita.
Additional discrepancies were noted between Remita and NUPRC records, with values showing N388,103,353.31 reported lower and N909,392,169.74 reported higher in Remita.
Following these findings, the committee has summoned NUPRC CEO Engr. Gbenga Komolafe and other officials appear next Monday to address these infractions.
The committee stated that these findings raise serious concerns about financial management and transparency within the NUPRC, underscoring the need for a comprehensive investigation into “these alarming irregularities.”
