Tuesday, December 13, 2016

Ex Ministers in Trouble as EFCC Begin Search for NNPC's Missing $12bn

Nigeria's anti graft agency, the EFCC and NEITI have set up a 12 man board to investigate how some $12bn paid to NNPC by NLNG got missing.

The panel's goal is to trace the cash, The Nation says.

As a result, ex Ministers and government officials will be invited by the agencies soon, someone familiar with the matter said.

“We have a lot of issues to look into but the $12.9billion is certainly a priority. As at 2012, the NLNG cash paid to NNPC was $11.63billion but further investigation confirmed that it hit $12.9billion by 2013.” the source said.

“This investigation requires multi-agency cooperation. There are areas we will involve the Department of Petroleum Resources (DPR) and the Federal Inland Revenue Service( FIRS).”

Some of the issues were contained in the NEITI 2015 Annual Activity Report. The report said in part: “NEITI audit reports confirmed that the sum of $11.63billion has been received by NNPC but has not been remitted to the Federation Account as required by law.
“These findings have been communicated to the Federal Government.

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