CBN, AGF trade blame over oil bloc account

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At the public hearing on the investigation of $22 billion OPLs and Oil Mining Leases (OMLs) conducted by the Gideon Gwani-led ad hoc Committee, the Central Bank of Nigeria (CBN) and the Office of the Accountant General of the Federation ( OAGF) refused to take responsibility for the records.

The CBN was given a seven-day ultimatum to provide documents to ascertain whether the payment of application fees, royalties, signature bonuses and other fees were actually made by oil frms.

Also, the committee resolved that the former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Funsho Kupolokun, should appear before it over the ceding of marginal fields to oil and gas operators.

The committee began investigation into the award of all OPLs and OMLs by the Federal Government to ascertain whether due process and guidelines for the acquisition of oil and gas assets were complied with.

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