Finance
Nigeria Senate clears NNPC, Deziani, on $49.8bn un-remitted fund
The Senate Committee on Finance which investigated the NNPC over allegations of fraud leveled against it by the suspended Governor of the Central Bank, Mallam Lamido Sanusi, Wednesday submitted its report to the Senate saying no funds were missing.
Sanusi had spuriously claimed in a leaked letter to President Goodluck Jonathan that $49.8 billion in crude oil revenue was missing.
The detailed report according to sources at the Senate also cleared the NNPC and the Ministry of Petroleum of any wrong doing. The report however directed the NNPC and the Ministry of Finance as well as other relevant agencies to reconcile a sum believed to be around $300 million dollars. The Senate said the suspended Governor of the Central Bank was hasty and got his figures wrong.
The report further recommended the immediate passage of the Petroleum Industry Bill (PIB) as the Minister of Petroleum, Mrs. Deziani Allison-Madueke continues to sanitise the industry. The Senate Committee on Finance is under the chairmanship of Senator Ahmed Mohammed Makarfi (Kaduna PDP). The committee took about 5 months to complete its assignment.
-
Oil and Gas2 days agoOil prices fall as diplomacy hopes outweigh escalation fears in Middle East war
-
Economy2 days agoSouth African economy 5% bigger after rebasing, moving further ahead of Nigeria
-
News2 days agoSub-Saharan Africa’s growing cities offer path to millions of new jobs
-
News2 days agoECB President Lagarde resigns at a time of mounting challenges for Europe
-
News2 days agoFG approves King Amachree Airport in Rivers, sets 11 conditions
-
Agriculture2 days agoFG targets EU investment in one-million-hectare cocoa expansion plan
-
Economy2 days agoProtecting workers’ retirement savings against inflation is your job, PenCom tells PFAs
-
News20 hours agoReps C’ttee threatens removal of illegal structures on power transmission routes