House of Representatives Ad-hoc Committee wey dey in charge of the Implementation and Oversight of the Naira-for-Crude-Oil Policy don tell EFCC make dem bring complete report on all crude oil wey dem seize, how dem take sell am and how dem dispose am.
The committee chairman, Emerengwa Boniface Sunday, give this order during the continuation of their investigation for Abuja.
The Naira-for-Crude policy start for 2024 to help stable the naira, support local refineries and reduce pressure for foreign currency.
During the hearing, the Special Adviser to the EFCC Chairman on Regulatory Compliance, Francis Usani, talk say the documents wey dem submit only cover referrals wey dem receive from 2003 reach today, including crude seizures EFCC handle. He still admit say EFCC never do any direct investigation wey concern the Naira-for-Crude policy itself.
He talk say: “We never get any direct case wey involve Naira-for-Crude policy since e start. But because dem dey send us some cases, we combine all the crude-related matters wey EFCC don handle inside the submission we give una.”
But committee members no still gree. Dem say EFCC submission no complete.
Rep. Muhammed Bello Shehu point out say the EFCC table get blank spaces for the volume and grade of crude wey dem seize. E still ask why EFCC never even start their own investigation on top the policy, since the policy suppose help local refineries and reduce pressure on the naira.
He talk say: “For the table wey una give us, the volume and grade column na ‘nil, nil’. But una suppose show wetin una actually seize and how una take calculate the money wey reach EFCC. As e be now, this una report no complete.”
He come add say e shock am say the agency wey suppose dey protect Nigeria interest never investigate the Naira-for-Crude policy at all, even though na major national program.
In response, EFCC talk say their work dey mainly on crude oil seizures, no be refined products. Dem still promise say dem go redo the documents and bring full details, including quantity of crude seized, how dem dispose am, who collect am and whether the transaction happen for naira or dollar.
The committee later adjourn the hearing go December 4, 2025.
Earlier, the committee chairman remind everybody say the investigation no dey targeted at anybody. Na constitutional oversight to make sure the Naira-for-Crude policy dey transparent and accountable so Nigeria economy fit strong well.
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