This decision followed a resolution reached by the lawmakers shortly after the Executive Secretary of the agency, Mr. Waziri Adio, briefed them on the content of the audit report at plenary.
Senate President, Dr. Bukola Saraki, in setting up the ad-hoc committee, said the issues raised by the NEITI boss cut across a lot of the different standing committees, and that in view of the enormity involved, the general opinion is that an ad-hoc committee be set up to probe the report.
He said the terms of reference of the panel led by the Chairman, Senate Committee on Petroleum Resources (Downstream), Jibrin Barau, would be to re-examine the financial processes and the fiscal audit report of the NEITI.
He stressed that the committee would also look into the financial losses and leakages to government in all its ramifications, the remedial measures and proffer sanctions where necessary.
The Senate President noted that the committee would also determine any relevant legislative action that would be required to block all forms of leakages.
“Based on the fact that the issues we talked about cut across a lot of the different standing committees, and in view of the enormity involved, the general opinion is that we will set up an ad-hoc committee with the responsibility of addressing them.
“The term of reference is to re-examine the financial processes and the fiscal audit report of the NEITI; the financial losses and leakages to government and all its ramifications, remedial measures and sanctions where necessary, and of course, more importantly any relevant legislative action that would be required to block all forms of leakages,” he said.
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