The House of Representatives Ad-Hoc Committee on Implementation and Oversight of the Naira-for-Crude Oil Policy has issued a seven-day ultimatum to all ministries, departments, agencies (MDAs), and private-sector stakeholders invited for its ongoing investigation, directing them to submit the requested documents on or before 27 November.
It warned that entities failing to comply would face decisive parliamentary sanctions, including arrests, where necessary.
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The committee’s Chairperson, Boniface Emerengwa, gave this warning on Thursday at the National Assembly after the investigative hearing earlier scheduled for the day was stalled by massive non-compliance from stakeholders expected to provide critical records on the policy’s implementation.
Majority of the invited bodies neither honoured the invitation nor forwarded the requested documents.
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“The investigative hearing scheduled for today, 20th November 2025, has been adjourned due to the gross negligence and lack of seriousness displayed by relevant stakeholders,” Mr Emerengwa said.
According to him, the stakeholders’ failure to engage with the committee not only delayed proceedings but also hindered the legislature’s ability to carry out effective scrutiny of the Naira-for-Crude Oil Policy, a strategic programme intended to strengthen Nigeria’s forex management, revenue efficiency, and oil-sector accountability.
“Despite ample notice, the majority of stakeholders failed to recognise the role of the legislative arm in working with the Executive for the effective implementation of the policy, by their failure to submit their required documents within the stipulated timeframe,” he said.
He added that the conduct had “undermined the integrity of the committee’s work” and “cast a shadow of unseriousness over a matter of national importance,” noting that the Nigerian people deserved transparency regarding a policy that directly affects the country’s economic sovereignty and revenue stability.
“Let it be unequivocally stated: the committee is deeply disappointed,” he stressed.
The chairperson explained that, given the gravity of the assignment and the vital importance of the policy to the economy, the committee decided to grant a final extension for the submission of documents.
He directed all stakeholders to take advantage of the new deadline of 27 November, warning that no further extension would be entertained.
He said, In the spirit of magnanimity and in recognition of the gravity of this investigation, the committee has resolved to extend the deadline for document submission to 27th November 2025.”
To accommodate the delays, Mr Emerengwa also announced that the investigative hearing had been rescheduled to 2 December at 12:00 a.m. in Conference Room 440 of the National Assembly. He emphasised that the date was “final and non-negotiable.”
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He cautioned that defaulting organisations and individuals risked the committee’s full legislative powers, including summons, subpoenas, public naming and shaming of non-compliant entities, recommendations for sanctions to regulatory and executive bodies, and escalation to plenary for further disciplinary measures.
“This committee will not be made to appear unserious or ineffective due to the indifference of stakeholders. We are determined to carry out our oversight mandate diligently, transparently, and in line with the expectations of the Nigerian people. The time for excuses is over. The time for accountability is now,” Mr Emerengwa said.
He urged all invited agencies and stakeholders to treat the matter with the seriousness it deserves, reminding them that the Naira-for-Crude Oil Policy carries far-reaching implications for Nigeria’s economy, fiscal discipline, and the credibility of government reforms.
Stakeholders are now expected to submit their documents before the new deadline and appear before the committee at the rescheduled hearing.
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