A House of Representatives committee has dismissed money laundering allegations against the Executive Vice President (Downstream) of the Nigerian National Petroleum Company Limited (NNPCL), Dr Mumuni Dagazau following an investigation into petitions submitted by the Coalition for Transparency and Accountability in Nigeria’s Petroleum Sector (CTANPS).
The decision followed an examination of the petitions and the issues raised by an ad hoc subcommittee constituted by the House to investigate the allegations.
Chairman of the House Committee on Petroleum Resources (Downstream), Hon. Ikenga Ugochinyere, who disclosed this yesterday at its meeting, commended the investigative process, stressing the importance of evidence-based legislative oversight in promoting accountability, transparency and public confidence in the oil and gas industry.
According to him, the petition was submitted by the Coalition for Transparency and Accountability in Nigeria’s Petroleum Sector (CTANPS), which appeared before the subcommittee on October 21 but failed to return on the subsequent hearing dates with documentary evidence to substantiate its allegations.
He said the committee had also resolved to dismiss a petition alleging conflict of interest and money laundering against Dagazau, following an investigation by its ad-hoc subcommittee.
Ugochinyere said the committee’s position was also based on developments in the downstream sector, including increased crude supply to local refineries, the expansion of alternative energy sources and measures introduced to cushion the impact of rising global crude oil prices on Nigerians.
He said the downstream petroleum sector remained critical to Nigeria’s economic stability because of its impact on fuel availability, distribution, transportation costs and the livelihoods of millions of Nigerians.
Ugochinyere emphasised that legislative oversight must be impartial and guided by verifiable facts, adding that petitions should be thoroughly examined while individuals are protected from unsubstantiated allegations.
The lawmaker also highlighted initiatives by the NNPCL to strengthen downstream operations, diversify energy sources and modernise petroleum product distribution infrastructure.
He cited the company’s revised approach to refinery rehabilitation through a technical equity partnership model aimed at improving operational efficiency and commercial sustainability.
Ugochinyere also noted the NNPCL’s support for compressed natural gas (CNG) as an alternative to conventional petrol and diesel.