No process was breached, no money has been lost | Baru insists

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru has said as a former chairman of the NNPC anti-corruption committee, he cannot break the rules and laws.

Baru said this on Monday when he received leaders of some unions at the NNPC headquarters in Abuja.

Background:

What he said:

  • He described the allegations that he approved contracts without due process as unfortunate.
  • He added that the memo was aimed at inciting Nigerians.

“I know for those of you who are following what we are doing here, you know that there’s no money lost and no process has been breached,” he said.

“Our contracting process is perfect and we will continue to follow the process. The corporation board has no role, I repeat, has no role as far as the contracting process is concerned.”

He said the crude term contract and the direct sale and direct purchase (DSDP) agreements were “not contracts as such” but pre-qualification of off-takers of crude oil.

“The case of DSDP is of those that will take crude and give us products in return,” he said.

“So there is no value to them. But humongous figures have been put forward mainly to incite the public, it is most unfortunate.”

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