News
Oil sales to China totaling $2.4 Billion were not lost by Nigeria (Malami).
Oil sales to China totaling $2.4 billion were not lost by Nigeria (Malami).
Malami claims that an accusation standing alone lacks any plausible support.
The purported unlawful sale of 48 million barrels of crude oil exported to China in 2015 did not result in over 2.4 billion dollars in lost income for the Nigerian government.
Nigeria’s Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami, disclosed this in Abuja on Thursday at the hearing of the House Ad Hoc Committee investigating the alleged sale of 48 million barrels of crude oil amounting to over 2.4 billion dollars and crude oil exports to global destinations from 2014 to date. NewsReport gathered.
In a report by the News Agency of Nigeria, the minister said the claims were baseless and lacked merit.
Oil Sales
The Justice Minister stated that the office of the AGF had filed a criminal suit against the individuals who purportedly raised the allegations being investigated by the Ad-hoc Committee, adding that Nigeria did not lose the sum of $2.4 billion from the alleged illegal sale of 48 million barrels of crude oil exported in 2015 to China. The report added:
“The house had, in December 2022, resolved to constitute an ad hoc committee to probe the allegation when it adopted a motion sponsored by Rep. Isiaka Ibrahim from Ogun at plenary.According to him, the individuals have attempted to defraud the federal government under the guise that the alleged crude oil stolen in China has been recovered.Investigation
He also noted that the ongoing investigation initiated by the House was unconstitutional, adding that the prosecution of the petitioners, which started in 2019, suffered a setback as a result of a series of adjournments caused by the absence of the accused persons.
The minister also added that the allegations were devoid of any reasonable ground, citing provocations enough to invoke the constitutional oversight of the committee.
“Let me state on record and for the benefit of Nigerians and the committee that the allegations relating to the 48 million barrels are baseless. The allegation is unfounded. It lacks merit and, indeed, substance.
“The allegation in its own right is devoid of any reasonable ground pointing to a material suspicion cogent enough to invoke the constitutional oversight of the committee.”
“In 2016, allegations were rife and hyped on social media. There were allegations of the existence of 48 million barrels of stolen Nigerian crude in China, said to have been valued at 2.4 billion dollars.”
Backstory
Nairametrics had previously reported that the Federal House of Representatives began a three-day investigative hearing on Tuesday, April 11, on the alleged illegal sale of 48 million barrels of crude oil, valued at $2.4 billion.
The House of Representatives Ad Hoc Committee on Oil Theft has invited several high-ranking officials in the Federal Government over its investigation into the alleged loss of $2.4 billion in revenue from the illegal crude oil sale in 2015.
