Due to allegations of revenue leaks totaling N32,151,775,466.87 that accrued to the Commission’s coffers on behalf of the Federal Government between 2015 and 2022, the House of Representatives has given Engineer Gbenga Komolafe, the Chief Executive Officer of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), a 96-hour ultimatum.

Hon. Bamidele Salam, the chairman of the House Committee on Public Accounts, voiced serious concerns over reported revenue leaks and non-compliance with normal operating procedures at the investigative hearing on Thursday.

The legislators said after the Committee’s scrutiny of the records that N909,392,169.74 had been transferred straight to private accounts with Deposit Money Banks without following TSA procedures.

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Significant disparities were also found during the study, including N15,476,269,397.10 in transactions from Remita that were not included in the NUPRC data set and N6,332,212,384.25 in transactions from the NUPRC data set that were not included in Remita.

Furthermore, Remita and NUPRC transactions showed significant value differences, with Remita reporting a lower value of N388,103,353.31 and N909,392,169.74.

Given these conclusions, the committee unanimously directed NUPRC CEO Engr. Gbenga Komolafe and other authorities to come before them on Monday, October 28, 2024, to provide an explanation of the alleged violations.

Speaking at the session, a few parliamentarians emphasized the necessity of ensuring the NUPRC has efficient financial management and transparency and demanded a comprehensive investigation into these concerning anomalies.