The House of Representatives Public Accounts Committee, on Wednesday, warned 13 non-compliant oil companies to appear before it to answer questions in the ongoing probe of non-remittance of money due to the Federal Government, or face sanctions. The companies allegedly owe the Federal Government about $456.95 million (N731.12 billion) in unremitted revenues. In a statement by its spokesman, Hon. Akin …

The House of Representatives Public Accounts Committee has directed OML18 Resources Limited, formerly known as Sahara Field Production Ltd., to remit $4,020,000 to the Federation Account within five days. The Committee issued the directive on Wednesday at its investigative hearing, as part of its ongoing probe into outstanding debts owed by oil companies to the Federation Account. The investigation, based …

The House of Representatives Public Accounts Committee, on Tuesday, initiated an investigation into the outstanding debts owed to the Federation Account by the Nigerian National Petroleum Company Limited (NNPCL) and oil companies. The investigative hearing, chaired by the sub-committee chairman, Akinlade Isiaq, followed queries issued by the Office of the Auditor-General for the Federation regarding NNPCL’s financial obligations. The report …