#BBB NEWS| Diezani Approved $24bn Crude Swap Without Contract - Former GMD Of NNPC

A former Group Managing Director of the Nigerian National Petroleum Corporation, Mr. Austin Oniwon, confirmed on Tuesday that there was no formal contract between the NNPC and trading companies that lifted $24bn worth of crude oil from the country between 2011 and 2014.

Oniwon told the House of Representatives Ad Hoc Committee on Crude Oil Swap that a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, merely granted the “extension” of an earlier contract.

He said the extension was not a formal contract before he (Oniwon) left office in 2012.

The committee is chaired by an All Progressives Congress lawmaker from Kwara State, Mr. Zakari Mohammed.

“There was an approval for the extension by the minister; I believe the records are with the NNPC,” he added.