The Nigerian National Petroleum Corporation (NNPC) has disclosed that its management of transactions involving Nigeria\u2019s equity share of crude oil produced in the country has been automated to up to 98 per cent.<\/p>\n
It said with the development, information on how much of Nigeria\u2019s crude oil share was sold, the price, who bought it and where it went, could be accessed at a click of a button by its Crude Oil Marketing Department (COMD).<\/p>\n
The corporation also disclosed it would work with Economic and Financial Crimes Commission (EFCC) to checkmate possibilities of sleaze in its operations.<\/p>\n
Its Group Managing Director, Mallam Mele Kyari, stated this recently at the 3rd African Anti-Corruption Day and Round Table Discussion on Asset Recovery and Return.<\/p>\n
A statement from NNPC\u2019s Group General Manager Public Affairs, Mr. Ndu Ughamadu, quoted Kyari to have explained that the NNPC was committed to a robust relationship with the EFCC.<\/p>\n
He said the corporation would assist the anti-graft agency in its work against corrupt practices.
\nAccording to the statement, it was in the interest of the NNPC to support the EFCC and entrench accountability and transparency in its system.<\/p>\n
Kyari, also stated that President Muhammadu Buhari, has never interfered in the operations of the corporations or compromised any of its processes, and as such, it was imperative for NNPC to embrace openness and accountability in all its activities.<\/p>\n
He explained the process of automating its crude oil sales processes started earlier, and was initiated to eliminate the use of discretion in such transaction, adding that it was susceptible to corruption.<\/p>\n
\u201cUnder the new GMD\u2019s watch as Group General Manager, Crude Oil Marketing Division (COMD), NNPC recorded visible transformation in the management, marketing and sales of the various grades of Nigeria\u2019s crude oil through the infusion of transparency and automation of the processes.<\/p>\n
\u201cAs part of the reforms, the COMD as at last check had achieved 98 per cent automation of all transactions involving the supply, marketing and sale of Nigeria\u2019s equity crude oil across the world. Today, COMD is enabled to achieve an end-to-end monitoring of every barrel of crude oil sold in the country,\u201d the statement noted.<\/p>\n
Furthermore, it stated that the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, who declared the event open, said it was encouraging to see Kyari and his new management team identify with the EFFC and its anti-corruption mandate.
\nMustapha, reportedly called on Kyari to keep the government\u2019s anti-corruption drive alive in the NNPC by sustaining the momentum of collaboration with EFCC.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nigerian National Petroleum Corporation (NNPC) has disclosed that its management of transactions involving Nigeria\u2019s equity share of crude oil produced in the country has been automated to up to 98 per cent. It said with the development, information on how much of Nigeria\u2019s crude oil share was sold, the price, who bought it and […]<\/p>\n","protected":false},"author":62,"featured_media":5744,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[41,106,370,434],"class_list":["post-13192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-corruption","tag-economy","tag-market","tag-nnpc"],"yoast_head":"\n