The House of Representatives has voted overwhelmingly positive on a motion entitled “Urgent need to investigate the alleged connivance of the Nigeria National Petroleum Corporation (NNPC) with Swiss Oil Dealers to rob Nigeria Billion of Dollars”. The motion sponsored by Abiodun Abudu-Balogun seeks to investigate allegations contained in a damning report released by a Swiss non governmetal organization, ‘The Berne Declaration’.
The report entitled, “Swiss Traders Opaque Deals in Nigeria” is said to be the biggest fraud in Africa, and the authors of the report allege Nigerian oil technocrats and companies collaborate with Swiss firms to milk the treasury to the tune of trillions of Naira through shady oil deals.
According to the report some of the shady Nigerian companies involved include a company belonging to the Petroleum Minister, Diezani Madueke’s younger brother.
Abudu-Balogun said, “Nigeria is the only major oil producing nation that sells 100 per cent of its crude oil allocations to private traders, rather than market it herself and benefit from the resulting added value with the greatest number of beneficiaries of export allocations”
He further accused that “the sharp practices and deals in NNPC crude allocations to local refineries which are not utilised but sold fraudulently at knock down prices to Geneva based companies through letter box companies by SWAP arrangement”.