• About
  • Advertise
  • Careers
  • Contact Us
Friday, June 27, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home News

Why House of Reps Issued Warrant to Arrest CBN Governor, Others

by Joan Aimuengheuwa
September 10, 2024
in News
0
Why House of Reps Issued Warrant of Arrest CBN Governor, Others
House of Reps

House of Reps

UBA
Advertisements

The House of Representatives Committee on Public Petitions has issued a warrant of arrest for key government officials, including the newly appointed CBN Governor, Olayemi Cardoso, and the Accountant General of the Federation, Oluwatoyin Madein. 

The move comes after the officials declined multiple invitations to appear before the committee and address pressing questions regarding their operations.

During the committee’s hearing on Tuesday, a motion to issue the arrest warrant was introduced by lawmaker Fred Agbedi, citing the persistent non-compliance of the invited officials. Agbedi emphasized that the parliament operates with a sense of urgency, having extended invitations four times without any response from the concerned individuals.

The motion received unanimous approval, leading to the issuance of arrest warrants for CBN Governor Olayemi Cardoso, Oluwatoyin Madein, and 17 others. The decision was reinforced by the committee’s chairman, Rep. Micheal Irom, who directed the Inspector General of Police to ensure the appearance of the accused officials before the committee on December 14.

The roots of this controversy stem from a petition anchored on the Nigeria Extractive Industries Transparency Initiative (NEITI) report of 2021. Fidelis Uzowanem, the petitioner, presented evidence that the NEITI report exposed fraudulent activities within the oil and gas industry dating back to 2016.

Uzowanem highlighted the concealment of illegal transactions involving the Nigerian National Petroleum Corporation (NNPCL) and various oil companies. He alleged that funds meant for crude oil production were misappropriated through cash core payments, a method employed for money laundering.

The petitioner disclosed, “The 2024 budget of 27.5 trillion that has been proposed can be confidently funded from the recoverable amount that we identified in the NEITI report.” Uzowanem accused NNPCL of collaborating with oil companies, such as Total Exploration and Production Nigeria Ltd and Chevron, to launder funds through misrepresented payments.

Uzowanem claimed, “In 2021 NEITI reported that Total Exploration and Production Nigeria Ltd was paid 168 million dollars, but examination of submissions by the company shows that it received 292 million dollars.”

This alleged financial malpractice extends to other companies, including Chevron and Nigeria Agip Company, raising concerns about the integrity of financial reporting within the oil and gas sector.

The House of Representatives Committee on Public Petitions remains resolute in its pursuit of accountability. The issuance of arrest warrants is a critical juncture in the investigation, putting high-ranking government officials on notice and emphasizing the gravity of the allegations brought forward by the petitioner.

The nation awaits the developments slated for December 14, when the accused are expected to face the committee and address the serious allegations against them.

Loading

Advertisements
MTN ADS

Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
0Shares
Tags: CBN governorFidelis UzowanemHouse of RepresentativesOlayemi CardosoOluwatoyin Madein
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post
e-commerce

Breaking E-Commerce Barriers in Nigeria

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Flutterwave Introduces Tuition to Ease Education Fee Payments for Africans Abroad 

Flutterwave Introduces Tuition to Ease Education Fee Payments for Africans Abroad 

2 years ago
business plan

Revisiting Your Business Plan For a Better Marketplace Experience (Part I)

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.