The House of Representatives Joint Committee on Finance and Petroleum Resources (Upstream) has issued a stern warning threatening punitive measures against oil companies that refuse to cooperate with the ongoing investigation into the alleged $60 billion inflated cash calls under the Nigerian National Petroleum Company Limited’s Joint Venture Agreements.
Co-chaired by James Faleke (Finance) and Alhassan Ado-Doguwa (Petroleum Resources), the joint committee, on Saturday, expressed strong dissatisfaction with the absence of chief executives from several key companies and agencies during recent hearings.
They also criticized the quality of presentations made by representatives who did attend, cautioning against the practice of sending proxies instead of top executives.
