The House of Representatives ad hoc committee investigating the alleged loss of over $2.4bn revenue to illegal sale of 48 million barrels of crude oil export in 2015, on Thursday, held its inaugural meeting.
The committee, which has been mandated to probe into oil exports from Nigeria since 2014, assured whistle-blowers of confidentiality as they provide information leading to recovery of lost revenue.
The House had on December 20 resolved to constitute an ad hoc committee to investigate a whistle-blower’s allegation of illegal sale of 48 million barrels of Nigeria’s Bonny Light crude in China in 2015 and the insurance status of the cargo.
The committee was asked to investigate all crude oil exports and sales by Nigeria from 2014 to date, with regards to quantity, insurance, revenue generated, remittances into the Federation Account or other accounts as well as utilization of the revenue for the period under review.