Five oil companies operating in the country have been accused by the Special Presidential Investigation Panel on the Recovery of Public Property of failing to remit over one billion dollars in taxes and royalties to the federal government.
Chairman of the panel, Mr. Okoi Obono-Obla, who spoke while briefing newsmen in Abuja on Monday, accused the yet-to-be-identified oil companies of being complicit in sabotaging the Nigerian economy.
He disclosed that the panel had already commenced investigation of the companies to determine the extent of their involvement.
“We are investigating some of these companies for tax evasion and failure to pay royalties. Five oil companies have not remitted over one billion dollars to government. We will get to the root of the matter.”
“We have compiled their names and submitted to the Comptroller-General of Nigeria Immigration Service so that they would be placed on travel ban,” he said.
While outlining the achievements of the panel in 2018, Obono-Obla said the panel had compiled the names of about 39 public officers who were under investigation under the Executive Order 6, which had to do with travel ban.
He added that the panel was in partnership with the Nigerian Intelligence Agency (NIA) investigating Nigerians allegedly implicated in the Paradise Panama Papers.
“Findings will be made available to Nigerians in due course.
“The panel is investigating the Tumsah brothers – Tijani Tumsah, Vice Chairman, Presidential Initiative on North East (PINE) and Ibrahim Tumsah Director, Finance and Accounts, Federal Ministry of Power, Works and Housing for alleged abuse of office and corruption.
“The panel has recovered an assortment of 86 brand new luxury and sophisticated cars from the duo; 23 of these vehicles are bullet-proof without the requisite permits.
“We have since obtained an interim order of forfeiture from FCT High Court in Abuja in respect of these properties,” he said.

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