"FG must Investigate NNPC $25bn contract scandal"

The umbrella body of Ijaw youths, Ijaw Youth Council Worldwide, has called on the Federal Government to investigate the $25bn contract scandal rocking the Nigerian National Petroleum Corporation.


The spokesman for the IYC, Mr. Daniel Dasimaka, made the call in an interview on Tuesday in Yenagoa, Bayelsa State capital.

The media was recently awash with a leaked letter by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu,  wherein he alleged among other things, the irregularities in the $25bn contract award and insubordination by the Group Managing Director of the corporation, Dr. Maikanti Baru.

Also after Kachikwu’s allegations of several underhand dealings by the NNPC became public, the corporation was in the news again over alleged unremitted $793.2m belonging to the Federal Government.

The current NNPC management was alleged to have stashed the money in different commercial banks instead of remitting same to the Treasury Single Account as required by law.

Dasimaka said it was unfortunate that those who were saddled with the management of oil wealth were busy mismanaging it at the expense of ordinary Nigerians, particularly the Niger Delta people.