The committee’s directive followed reports that NNPC is planning to borrow an additional $2bn in crude oil-backed loans from international creditors to boost its financial inflow.

The Group Chief Executive Officer of NNPC, Mele Kyari, according to the panel, reportedly stated that the national oil company was in discussions with international creditors to raise an oil-backed credit facility.

This was a sequel to recent findings that the national oil company was struggling to pay international oil traders a backlog of $6bn amid subsidy removal.

In a statement issued by Ugochinyere on Wednesday, the lawmaker urged NNPC not to undermine the forensic investigation by the House of Representatives with another fresh loan.

It warned that the move if allowed, would further worsen the situation of of things, starve the refineries of feed-stock, weaken revenue generation and create room for waste of future revenue.

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