OVH ACQUISITION PROBE: House Rejects Report, May Begin Fresh Investigation

The House of Representatives, yesterday, rejected the report of its Ad–hoc Committee that investigated the circumstances surrounding the acquisition of OVH Energy by NNPC Limited. The House Ad-Hoc committee was mandated to investigate the circumstances surrounding the acquisition of OVH Energy by NNPC Limited, the irregularities and alleged corruption in the Nigeria energy security provider, NNPC Retail Limited and the Acquisition of OVH Energy Marketing. The report was then stepped down and the motion by Hon. Ibrahim Isiaka to shift the responsibilities of the investigation to the House Committee on Petroleum Downstream was then voted on and adopted. Chairman of the Committee of the Whole, Rt. Hon. Benjamin Kalu, then called on the House Committee on Petroleum Downstream while conducting its investigation to be mindful of the real issues of irregularities, corruption, and integrate due process and report back to the House in 4 weeks. Committee when asked if the details of the takeover and management of the company were concerning NNPCL, the reply was that the committee could not truly verify. another further asked if financial manipulations and fraud were truly uncovered by the Ad-Hoc committee, it was then revealed that the report was not signed or contributed to by any other member of the committee except the chairman.