Staff of Nigeria National Petroleum Corporation connived with officials of some oil marketing company to dip their hands in the cookie jar, stealing 10 trillion Naira in the process.

This amount could finance about two years of the federal government's budget.

This allegation was made by Senators, who claim the fraud occurred between 2006 and 2016.

This allegation will see the senate's joint committees on Petroleum and Gas begin investigation to determine what exactly happened to the money.

The Chairman, Senate Committee on Petroleum Downstream, Kabiru Marafa,  who briefed journalists on the matter in Abuja over the weekend, NNPC alone would have to account for 5.2 trillion Naira it collected as subsidy from the government's coffers for fuel importation.

He said NNPC will also account for the 445,000 barrels of crude oil allocated to it on yearly basis for local refining.

Those expected to appear before the lawmakers include:

  • Past and present Chief Executive Officers of NNPC
  • Central Bank of Nigeria
  • Federal Inland Revenue Service
  • Nigerian Customs Service
  • Nigerian Maritime Administration and Safety Agency
  • Nigerian Ports Authority
  • And, all Licensed Inspection Agencies.