Demands probe
A Civil Society Organisation (CSO), the National Observatory, has picked holes in the recent procurement of a three billion dollar Emergency Crude Repayment Loan from the Cairo, Egypt-based, African Export-Import Bank (Afrexim Bank) by the Nigeria National Petroleum Corporation Limited, (NNPCL).
The group, which claims to be the nations conscience, said the huge loan was ostensibly to shore up support for the national currency and stabilise the nations foreign Exchange Market, had exposed the deep gaps in Nigerias corporate governance system and values.
The group, in a statement signed by its President, Debo Adeniran, and the Administrative Secretary, Omotaje Olawale Saint, stated: It calls into fore dire necessity for the overhaul of our political idiosyncrasies, imperatives for a paradigm shift socio-economic orientations and policy thrusts.
It noted that the Central Bank of Nigeria (CBN), had been carrying out a forensic audit of what it termed the fiducial recklessness during the pendency of Emefieles headship.
The group stated that most of the infractions, that Emefiele was being investigated, were committed with active complacency, if not complicit of these global financial institutions players.
It said the loan under Buhari had no approval by requisite bodies and was without the knowledge of the Federal Executive Council, National Economic Council, or the National Assembly.
This NNPC Ltd $3 billion loan from Afrexim is gotten in the same way and manner that CBN under Emefiele conducted its affairs with utter disrespect to the constitution, disdain for the nations sovereignty and arrogant dis-interestedness in the plights of pulverised Nigerian citizens.
All Nigerians, including CSOs, investigative journalists, and independent investigations are challenged to pierce the veil, and expose the promoters, profiteers, and beneficiaries of the ubiquitous NNPC.
The corporation is derelict in its corporate responsibilities to run a thriving business enterprise generating much-needed foreign exchange revenues for the country, none of the four refineries in its profile produces a drop of Premium Motor Spirit (Petrol) for the country, it stated.
