Markets

Egina Probe: Senate Threatens NAPIMS Boss Over Non-appearance

  • Egina Probe: Senate Threatens NAPIMS Boss Over Non-appearance

The Senate Committee on Local Content on Wednesday asked the Group General Manager of the National Petroleum Investment and Management Service, Mr. Roland Ewubare, to appear before it within 24 hours or a warrant of arrest would be issued against him.

At the sitting of the committee, which is probing the variations of the cost of the $16bn Egina deep-sea oil project, the Chairman, Senator Solomon Adeola, alleged that it was becoming a tradition in the Nigerian National Petroleum Corporation and its subsidiaries to treat invitations to officials by the National Assembly with levity, while giving excuses for their non-appearance.

Adeola stated that the Senate panel would henceforth not deal with junior officials sent by heads of government bodies to represent them, according to a statement by his Media Adviser, Mr. Kayode Odunaro.

NAPIMS had sent three general managers as its representatives before the committee three weeks ago when the Group General Manager was invited to explain the submissions made by Total Exploration and Production Nigeria Limited, which is handling the Egina project.

The Vice Chairman of the committee and Minority Leader of the Senate, Godswill Akpabio, stated that it was insulting not only to the Constitution but also the office of the group general manager for him to disregard the invitation by the Senate on issues relating to how Nigerians were being allegedly short-changed by foreign companies and their local collaborators.

Another member, Senator Aliyu Sabi-Abdulahi, said the lawmakers were angry that after the 21-day notice given to the GGM, he failed to appear before them.

The senator added that NAPIMS was in charge of a critical sector of the economy and should be ready to answer the call of the Senate in the lawmakers’ efforts to support the Federal Government in delivering the dividend of democracy to Nigerians.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Centralise Regulation for our Industry, E-hailing Drivers Urges FG

In a bid to bolster the interest of drivers in the country, E-hailing drivers, under…

3 days ago

Felicia Obozuwa Takes on Key Role as FCMB Executive Director, Corporate Services

First City Monument Bank (FCMB) has announced the appointment of Felicia Obozuwa as its Executive…

3 days ago

Equities Market Sheds N931 Billion as 40 Stocks Decline in Another Bearish Session

The Nigerian equities market extended its losing streak for the fourth consecutive session Wednesday with…

3 days ago

70 Million Poorest of The Poor Nigerians To Get N75,000 From FG

Notwithstanding that the Federal Government's efforts to distribute cash to poor Nigerians have failed in…

3 days ago

Dollar to Naira Exchange Rate Today, January 16th, 2025: Black Market vs CBN Rates

The Dollar to Naira exchange rate remains a critical indicator of Nigeria’s economic landscape, reflecting…

3 days ago

Over N60.5bn Alleged Fraud: More Trouble For Impeached Lagos Speaker Over Imminent Arrest By EFCC

Stakeholders and political gladiators in Lagos State have called on the Economic and Financial Crimes…

3 days ago