The oil industry has been quaking in its pants since Buhari walked into the Villa, we can tell you for free.

The new administration is looking at the Offshore Processing Agreements (OPAs) and crude oil swap deals. Buhari also has his eyes on the shady contracts in the industry, including the huge amounts of money said to have been spent on the publicity of the Petroleum Industry Bill (PIB), our source at the Villa has said.

The Economic and Financial Crimes Commission (EFCC) has begun asking questions as well. A few companies who have been involved in swap deals with the NNPC like Taleveras, Ontario, Sahara Group and international commodity trader, Trafigura, are also under investigation.

Ex Petroleum Minister, Diezani Alison-Madueke is in the new administration’s cross-hairs as well. A source has told Ekekeee that it is only a matter of time before she is cross examined.

ThisDay reports that NNPC officials questioned and watch listed by the Economic and Financial Crimes Commission (EFCC) and the Department of State Security (DSS) include the  Managing Director of Nigerian Petroleum Development Company (NPDC), Mr. Tony Moneke; Executive Director, Commercial, PPMC Mr. Frank Amego; and former NNPC Group Executive Director, E&P, Mr. Abiye Membere, among others.

It was also gathered that the Deputy Manager in charge of Joint Venture Accounts, Mr. Reginald Udeh was allegedly interrogated last week by the operatives of EFCC and DSS on issues relating to cash calls.

According to sources within NPDC, Udeh was invited twice to Abuja where he was questioned by investigators.

New President Muhammadu Buhari has made cleaning up the oil sector a priority. On Monday, he set up a Governors’ panel to look into why the NNPC has remitted less than it has earned to the federation account. Former Finance Minister Ngozi Okonjo-Iweala is also under investigation for drawing out of the Excess Crude Account (ECA) without authorization.