The Economic and Financial Crimes Commission on Thursday said it was awaiting the report of the ongoing probe of the alleged missing oil funds from the federation account by the Senate before beaming its searchlight on the Nigerian National Petroleum Corporation.
But the Independent Corrupt Practices and other Related Offences Commission said it would require the services of financial experts to investigate the NNPC because its accounts were very sophisticated and that the fees of the investigators would be too expensive for it to afford.
The Chief Executives of both graft agencies, Messrs Ibrahim Lamorde of the EFCC and Professor Olu Aina of the ICPC, gave the explanations while defending their 2014 budget proposal before the Senator Victor Lar-led Senate Committee in charge of the two anti corruption commissions.
Lamorde said since the issue relating to the alleged NNPC missing oil revenue was already being investigated by the National Assembly his agency would have to await the report of the investigation.
He said, “For every investigation, once the National Assembly is on it we have to wait until they conclude.”
Lamorde explained that his agency commenced the fuel subsidy investigation and charged many people, including the son of a former Chairman of the Peoples Democratic Party to court after the National Assembly had concluded and forwarded its report to his office.
He said, “We can’t just jump into something that is still being investigated by the National Assembly. It would be a mob kind of thing. There must be a sequence of events that would lead us to taking decision.
“Let the hearing of the National Assembly be concluded. Normally when it is concluded it is forwarded to us for investigation. I think people are in a hurry. We know that is what people want to hear but we don’t do investigation based on media reports.
“When we are ready to charge the individual to court we would do so. But when the investigation is going on let the investigation be concluded. Otherwise, we will jump into a market place situation where everybody is shouting at the same time.
“Law enforcement investigation is not like that. It’s supposed to be systematic and you work towards getting evidence to sustain your case if eventually you go to court. You can’t just go to court based on assumptions.”
Lamorde explained that his officers had gone very far with some of its investigations on oil subsidy and that “very soon when we are ready you will see us in court”.
He noted that various figures emerged when the oil subsidy controversy started and that his agency was faced with about three figures.
He said, “One figure would emerge today, it would change to another figure tomorrow and we arrive at another figure the next day. Now we have settled more or less on $20 billion.
“The minister of finance said they want commission an audit firm to do a forensic auditing of the finances of the NNPC. You need a professional firm to handle this. This is not a common investigation.
“These are very technical things. Let the audit be carried out. Let’s know exactly what we are talking about, understand what the figures are and criminal investigation can follow. You can’t start an investigation on nothing. You need a foundation.”
He added that the EFCC secured a total of 117 convictions in various courts across the country in 2013, adding that between January and now, the commission has so far secured 30 convictions just as he assured that it would reach 150 before the year runs out.
On the allegation that the commission was selective in its prosecution, the EFCC boss said, “The case of the fuel subsidy payment for which we charged people to court is still very fresh.”
When he was asked why the commission had not summoned the former Aviation Minister, Stella Oduah, even when some investigative reports had indicted her in the N255m bullet-proof cars scandal, Lamorde said his agency was on top of the situation.
He said, “I think people are in a hurry. What people want to hear is that just because there is an issue today, tomorrow you are shouting kill him, stone him. We don’t do investigation by the media. When we are ready to charge the individual to court we would do so.”
The ICPC boss on his part said its inability to probe NNPC over the years was due to sophistication of the agency’s account which is far above its capacity.
Aina said, “The account of NNPC is so sophisticated that it would require hiring financial experts to study it for needed investigation, the cost of which however cannot be afforded by us due to under-funding.”
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