Oil Swap Scam: Reps summons Deizani

Ailing former Minister Of Petroleum Resources Mrs Deizani Allison-Madueke has been ordered to appear before the house of reps on the 2nd of March.
The summon is coming on the heels of allegation that Mrs. Alison-Madueke,  extended contracts for crude oil
worth $24bn without valid agreements.
The Chairman of the House Ad hoc Committee on Crude
Oil Swap, Mr. Zakari Mohammed, confirmed on Monday
that a letter had been dispatched to Alison-Madueke to
appear before the committee on March 2.
“Yes, she has been asked to come on March 2.
“The letter left the secretariat today,” Mohammed stated.
The letter was routed through the office of the Group
Managing Director of the NNPC, Dr. Ibe Kachikwu.
Two firms, Duke Oil and Tranfigura, were given the
contracts in 2011 under the controversial crude-for-
refined products (swap) deals the Nigerian National
Petroleum Corporation executed between 2010 and 2014.
The NNPC was allocated 445,000 barrels of crude daily to
refine for domestic consumption.
However, owing to the failure of the country’s three
refineries, the corporation resorted to exchanging part of
the crude for refined products by engaging Duke Oil and
Tranfigura.
Incidentally, Duke Oil is a subsidiary of the NNPC, while
Tranfigura is an offshore firm trading in Nigeria’s crude
but does not pay tax to the Federal Government.
The Mohammed-led committee, which is investigating
the deals, had heard last week that Duke Oil and
Tranfigura got original contracts in 2010 to last one year.
However, after the contracts expired in 2011, the former
minister reportedly ordered an “extension” of the
contracts till 2014, but did not sign any valid agreements
with the firms.