President Muhammadu Buhari has ordered a probe into the oil swap deals and liquefied natural gas lifting lists which were in operation during the regime of the immediate past Group Managing Director of the NNPC, Dr. Ibe Kachikwu.
Buhari reportedly gave the order following allegations of favoritism against Kachikwu in the allocation of crude oil.
Of particular interest to the President are the oil swap deals involving CEPSA Refinery, IOC Refinery, ENOC and Sara Refinery.
According to financialwatchngr.com, the new GMD of NNPC, Baru has been instructed to investigate the list of crude oil takers approved by Kachikwu. Some of the companies to be investigated are Master Energy, Taleveras, Mercuria, Vitol, and Trafigura, all of which approved by Kachikwu.
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