By Mercy Aikoye
The House of Representatives Ad-Hoc Committee on Implementation and Oversight of the Naira-for-Crude Oil Policy has issued a 7-day ultimatum to stakeholders to submit requested documents. Failure to comply will attract severe sanctions.
The committee, chaired by Hon. Boniface Emerengwa, had invited agencies for investigation, but they failed to show up. “The investigative hearing scheduled for today has been adjourned due to the gross negligence and lack of seriousness displayed by relevant stakeholders,” Emerengwa said.
Emerengwa warned that any attempt to frustrate the process will be met with firm legislative consequences. “Let it be unequivocally stated: the committee is deeply disappointed,” he added.
The committee has extended the deadline for document submission to November 27, 2025. “This extension is a final opportunity for stakeholders to demonstrate their commitment to transparency and cooperation,” Emerengwa said.
Failure to comply will attract severe sanctions, including issuance of summons and subpoenas, public naming and shaming of non-compliant entities, and recommendation of sanctions to relevant regulatory and executive bodies.
“The time for excuses is over. The time for accountability is now,” Emerengwa emphasized. The committee is determined to carry out its mandate with diligence and expects full cooperation from all parties involved.
The Naira-for-Crude Oil Policy is central to Nigeria’s economic sovereignty and fiscal accountability. “The Nigerian people are watching, and history will judge our actions,” Emerengwa said.
The investigative hearing has been rescheduled to December 2, 2025. Stakeholders are expected to submit their documents and appear before the committee on the rescheduled hearing date.
Emerengwa warned that the committee will not hesitate to invoke its full legislative powers to ensure compliance. “We urge all stakeholders to submit their documents by the new deadline and prepare for the rescheduled hearing,” he urged.
The committee’s commitment to transparency and accountability is clear. “This committee will not be made to appear unserious or ineffective due to the indifference of stakeholders,” Emerengwa emphasized.
