Nigeria’s former Minister of Petroleum Resources, Mrs. Diezani Alison Madueke has been invited by a House of Representatives ad-hoc committee in relation to an investigation into an oil swap deal.
The House of Representatives Ad hoc Committee is investigating the award of contracts regarding a refined Product Exchange Agreement/Crude Oil Swap between the Nigerian National Petroleum Corporation/Petroleum Pipelines Marketing Companies (NNPC/PPMC).
Two companies, Duke Oil Company Incorporated and Trafigura B.V allegedly received contracts worth $24 billion without any paperwork to show that such valid agreements and allegedly continued lifting crude long after their contracts had expired.
Two former Group managing directors of the NNPC made appearances at the committee hearing last week and pointed fingers at the minister as complicit in the companies illegal operations.
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