• Tuesday, July 23, 2024
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BusinessDay

$24bn oil swap scam: Reps threaten to arrest erring oil marketers

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House of Representatives on Thursday threatened to arrest managing directors of the oil-marketing firms involved in the $24 billion oil swap being investigated.

Zakari Mohammed, chairman of the ad-hoc committee, issued the threat notice at the National Assembly complex, Abuja, while briefing on the activities of the committee.

Mohammed, who vowed that the committee would not allow the national assignment to be truncated through frivolous antics of some participants in the oil swap deals, noted that the committee had obtained bench warrant and would not hesitate to mandate the Inspector General of Police (IGP) to arrest any erring oil marketers, at the expiration of the 48 hours ultimatum.

The declaration followed the refusal of one of the trading companies involved in the oil swap deals, AITEO, to appear before the committee.

At the continuation of the hearing yesterday, counsel to affected oil marketing companies, Chika Uko, said a non-governmental organisation, Centre for Rule of Law had instituted a legal proceeding against the investigative hearing, which makes the continuation of the hearing prejudiced.

She explained that Aiteo Nigeria Limited and others would not appear before the committee until the case was dispensed with.

While reacting to her submission, Chairman of the ad-hoc committee, explained that Section 89(Id) of constitution empowers the committee to investigate and expose corruption.

He also demanded for the restraining order from the court that bar the Committee from proceeding with its assignment.

While ruling, Mohammed therefore threatened to issue the bench warrant of arrest against them should they fail to appear before the Committee within 48 working hours.