Home Business Reps Committee Probes Oil Companies, Summons FIRS Over Tax Evasion

Reps Committee Probes Oil Companies, Summons FIRS Over Tax Evasion

The House of Representatives Ad hoc Committee Investigating the Structure and Accountability of the Joint Venture (JV) Businesses and Production Sharing Contracts (PSCS) of the Nigerian National Petroleum Limited has commenced probe of Oil Companies accused of tax evasion.

Report has it that the probe was at the backdrop of alleged tax evasion by some oil companies operating in Nigeria, which led to the constitution of the Committee by the Speaker, Hon. Femi Gbajabiamila.

The Committee Chairman, Hon. Abubakar Hassan Fulata at a meeting with stakeholders in the oil and gas industry on Monday cited relevant a sections of the 1999 Constitution as amended.

He called on the heads of agencies in the oil and gas industry to make their submissions.

Failure to do so, he said, Police and other security agencies would be asked to get involved, noting that the ongoing investigation cannot be frustrated by anyone.

According to him: “This Committee is relying on Section 88 and 89 of the 1999 Constitution of the Federal Republic of Nigeria as amended and we are asking heads of agencies who failed to forward their submissions to do so.

This Committee cannot fail in its mandate and we might resort to the use of Police and other security agencies to compel heads of agencies to do so.

He decried that tax evasion by oil companies, particularly the International Oil Companies (IOCs) has negatively affected the revenue for the country.

Hon. Fulata expressed disappointment that several letters of invitation sent out to some organisations were not responded, revealing that those who responded did so shabbily.

The Committee Chairman further disclosed that the report of the Committee was expected to be submitted to the House in good time, hence, the committee gave 7 days to 21 organizations to make submissions before it would resort to the use of force.

Meanwhile, the Federal Inland Revenue Service, Chevron Nigeria Ltd, Shell Nigeria Exploration Nigeria Ltd are among the organizations to appear before the committee at the National Assembly on Tuesday, 1st November, 2022.

For Publication of your news content, essays, tapes, or any other newsworthy materials, please send them to cdanews9@gmail.com
For more inquiries and Advert, please call or WhatsApp. +234-805-410-9484.
Follow us on Twitter @anewsreporters
Visit our website,
www. cdanewsonline.com

Chinweuba Anyaragbuhttps://cdanewsonline.com
BEST SELLING BLOG THEME OF ALL TIMES. Follow us for more breaking news . Share,, like and Comment on our contents


Please enter your comment!
Please enter your name here

Most Popular

Three Man City First-Team Players Doubtful For Man Utd Clash

Manchester City manager, Pep Guardiola has said the trio of Kevin De Bruyne, Jack Grealish and Ruben Dias are all injury doubts ahead of...

How Tinubu Journeyed To Presidency Amid Obstacles

President-elect, Bola Ahmed Tinubu’s journey to become the president of the Federal Republic of Nigeria was never an enviable one as there were several...

Nigeria At Critical Moment – Peter Obi

Ahead of the inauguration of the President-elect, Bola Tinubu, the Labour Party, LP, presidential candidate during the last election, Mr Peter Obi, has declared...

President Buhari Makes Last Appointment As He Leaves Office

President Muhammadu Buhari has made what appears to be his last appointment as he prepares to leave office today, Monday. Report has it that in...

Recent Comments