The House of Representatives’ Public Accounts Committee has clarified that it has not accused the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) of a N32 billion revenue leakage or violations of Treasury Single Account (TSA) protocols. In a statement released on Monday, Committee Chairman Bamidele Salam addressed recent reports alleging financial misconduct by NUPRC, emphasizing that these claims are inaccurate.
During a hearing on the Auditor-General’s report, Salam explained that the committee’s objective is to safeguard public revenue without making premature accusations. “We have not said or accused NUPRC of revenue leakage as reported by the media,” Salam stated, underscoring the importance of comprehensive review before drawing any conclusions.
Earlier media reports claimed that the committee had identified significant revenue leaks in NUPRC’s records for the Federal Government and alleged unregulated fund transfers. These reports suggested inconsistencies in Remita-listed transactions, leading to a discrepancy in recorded funds.
NUPRC Chief Executive Gbenga Komolafe assured the committee of NUPRC’s compliance with the Petroleum Industry Act (PIA) of 2021. He explained that any unremitted funds were due to funding arrangements with the Nigerian National Petroleum Corporation Limited (NNPCL) and provided account statements confirming the commission’s adherence to protocol.
Komolafe added that the NUPRC utilizes legacy systems inherited from the Department of Petroleum Resources for transactions through Remita and has submitted detailed reports to address the Auditor-General’s findings.
