Vice President Yemi Osinbajo

Vice President Yemi Osinbajo has said he approved joint venture contracts of the Nigerian National Petroleum Corporation (NNPC) while he was acting President.

Minister of State for Petroleum, Ibe Kachikwu, had written a memo to President Muhammadu Buhari, where he accused Baru of $26bn contract scam.

But the NNPC had on Wednesday said Vice President Yemi Osinbajo approved the contracts while President Muhammadu Buhari was on medical leave.

Media aide to the Vice President, Laolu Akande, in a series of tweets on Thursday, corroborated the claims by the NNPC, saying Osinbajo approved the contracts.

He said this was to deal with a huge backlog of unpaid cash calls and incentivise investments.

“In response to media inquiries on NNPC joint venture financing, VP Osinbajo, as Ag President approved recommendations after due diligence & adherence to established procedure.

“Action necessary to deal with huge backlog of unpaid cash calls which Buhari adm. inherited and also to incentivize much needed  fresh investments in the oil & gas sector.” he tweeted.