A high profile investigation is on-going in Nigeria oil and gas sector as the Economic and Financial Crimes Commission (EFCC) and The Department of State Security (DSS) are investigating the crude oil swap programme and the Offshore Processing Agreements (OPAs) involving the Nigerian National Petroleum Corporation (NNPC) and some local oil and gas companies.The probe, which started at EFCC is also being looked at by the DSS in the last two weeks, has led to the interrogation, arrest, watch-listing and seizure of international passports of some NNPC officials and oil trading firms by the DSS. Those affected include Aiteo founded by Mr. Benny Peters, Sahara Energy founded by Tonye Cole, Tope Sonubi and Ade Odunsi; Ontario Oil & Gas founded by Walter Wagbatsoma; Taleveras founded by Mr. Igho Sanomi. NNPC officials being questioned and watch listed include Managing Director of NPDC, Mr. Tony Moneke; Executive Director, Commercial, PPMC Mr. Frank Amego; Group General Manager, Crude Oil Marketing Division, Mr. Gbenga Komolafe; and former MD of NPDC and later NNPC Group Executive Director, E&P, Mr. Abiye Membere.
Whereas Sahara Energy and Aiteo handled the OPAs, Taleveras, Ontario, international commodity trader Trafigura, and again Aiteo got crude oil allocations under the swap programme.
Before now former Minister of Petroleum Mrs. Alison-Madueke had, with the approval of former President Goodluck Jonathan, written to the EFCC requesting that it looked into the Swaps/OPAs "in order to clarify the status of crude oil allocations to the trading firms and the petroleum products that had imported into the country on behalf of NNPC’s product distribution subsidiary – Pipelines & Products Marketing Company." But Alison Madueke's letter may have been seized upon by the Chairman of Forte Oil Plc., Mr Femi Otedola, who, enjoying the backing of President of Dangote Group, Alhaji Aliko Dangote, may have brought the issues to the attention of President Muhammadu Buhari who immediately asked the DSS to "also look into the matter".
The crude oil swap programme has been in place for more than two decades and was precipitated by NNPC’s inability to refine and meet Nigeria’s fuel product requirements. The OPAs, on the other hand, predate the swaps and first came into being when President Muhammadu Buhari superintended the oil and gas industry as Petroleum Minister between 1976 and 1979.
The OPAs entail the allocation of crude oil by NNPC to the oil traders, which in turn ship the crude oil to offshore refineries, usually in neigbouring West African countries, and the refined petroleum products, including derivatives or byproducts, are imported by the same traders into the country on behalf of PPMC.
However, the swaps and OPAs, in recent years, have been riddled with allegations that the Nigerian oil traders which got the crude oil allocations from NNPC were defaulting on their obligations to the corporation by not supplying either all of the petroleum products or part of the products in accordance with their contracts. It was on this basis that Alison-Madueke had raised the alarm and wrote the EFCC requesting that it investigates the swaps and OPAs with a view to ascertaining the true position of things. And on getting the petition, EFCC swung into action by inviting the affected companies and their directors/officials.
Backed by documentation, Sahara Energy officials were said to have denied the allegations insisting the company business deals was in order. Also in his petition as an oil industry whistleblower, Otedola may have also asked the DSS to invite the oil traders and further asked the security agency to investigate the crude oil lifting carried out by Atlantic Energy Drilling Concept Limited and Septa Energy, founded by Jide Omokore and his partner Kola Aluko, under the controversial Strategic Alliance Agreement (SAA) their firms had with NNPC’s exploration and production subsidiary, Nigerian Petroleum Development Company (NPDC).
The petition wants both firms and their founder/directors investigated for lifting NPDC’s crude oil over a three-year period but failing to remit the proceeds, taxes and royalty to the government treasury. Their petition was said to have been expanded to include the probe of officials of NNPC, namely: Managing Director of NPDC, Mr. Tony Moneke; Executive Director, Commercial, PPMC Mr. Frank Amego; Group General Manager, Crude Oil Marketing Division, Mr. Gbenga Komolafe; and former MD of NPDC and later NNPC Group Executive Director, E&P, Mr. Abiye Membere, who was relieved of his position in March last year by former President Jonathan.
It went further to state that the probe would uncover a lot of shady deals in the oil and gas sector through which DSS could make recoveries totalling $25 billion on behalf of the federal government which is in dire need of the cash. The DSS have swept into action in the last two weeks, it has sent the names of the traders and NNPC officials to all exits points from Nigeria to prevent them from travelling and in some instances directed that their travel passports be seized and indeed has started to make substantial progress as some $115 million USD may have been recovered from Talevaras and 2 shiploads of petroleum products from Aiteo - which Aiteo officials said were already on the way to Nigeria as part of their contractual obligations. Officials also say the DSS may have also secured confessions from Ontario for between $800 million and $1.2 billion USD which it hopes to recover in the next few weeks. No official of Ontario could be reached at press time.
Sanomi of Taleveras, who was said to have returned from Dubai last week had his passport seized but it was later returned to him following his interrogation and full cooperation. He was directed to report to the Director General of DSS, Ita Ekpenyong, but has received no formal invitation from the security agency to date. However, those who have been invited, quizzed and given administrative bail by the DSS include Komolafe, Moneke, Amego and Membere.
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