No Missing Billions At NNPC: Senate Clears Alison-Madueke, NNPC Over Sanusi Allegations

No Missing Billions At NNPC: Senate Clears Alison-Madueke, NNPC Over Sanusi Allegations

Diezani Alison-Madueke
Nigeria's petroleum minister, Diezani Alison-Madueke

Nigeria’s Senate Committee on Finance chaired by Senator Ahmed Mohammed Makarfi has submitted its report on the allegations of missing funds made by suspended Central Bank Governor, Mallam Lamido Sanusi against the Nigerian National Petroleum Corporation (NNPC).

About six months ago, Sanusi has claimed in a letter to President Jonathan that $49.8 billion in crude oil revenues were missing from the national treasury. The letter was leaked to the public and created a firestorm in the media.

In reaction to the allegations, the Senate had set advised its committee on finance to investigate and report back to it on the allegations.

Soon after Mr. Sanusi’s letter was leaked, he reduced the figure to $12 Billion and later increased it to $20 billion.

According to The Willing Nigeria, 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.

In the report, the Senate Committee also chided the Sanusi for “being hasty and getting his figures wrong”. It also recommended the immediate passage of the Petroleum Industry Bill (PIB).

The committee took about 5 months to complete its assignment.

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