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Published On: Wed, Mar 26th, 2014

Reps Summons AGF, CBN, Budget Office over another Missing N59bn at NNPC

LAGOS MUACH 26TH (URHOBOTODAY) – The House of Representatives Committee on Public Accounts Tuesday summoned the Accountant General of the Federation, AGF, Mr. Jonah Otunla, the Acting Governor of Central Bank of Nigeria (CBN), Mrs. Sarah Alade, and the Director General, Budget Office, Dr. Bright Okogu, over an alleged missing N59.6billion meant for petroleum subsidy to the Nigerian National Petroleum Corporation (NNPC).
The summon was issued after the committee was told at its investigative hearing Tuesday that the money which the Budget Office and Accountant General’s office claimed was disbursed to NNPC was not received by the corporation.
Officials of NNPC, led by the Chief Strategist of the corporation, Dr. Timothy Okor, who appeared before the committee had disclosed that all attempts to make the Budget Office and AGF do a formal letter stating that the said N59.6bn was not cash backed failed.
The revelation necessitated the Chairman of the committee, Hon. Solomon Olamilekan Adeola, to ask that: “What you are telling this committee is that at no point in time you received any money and that it was not cash backed?
“You will do us a formal letter explaining to the committee that at no time you received N59.6bn but Delloitte Accounting firm in its report claimed the fund was disbursed. Towards this direction, these committees hereby summon the CBN, AGF and Budget Office to explain why such amount of money was disbursed without any documentary evidence.
“NNPC for now cannot be indicted until otherwise proven when AGF and Budget Office come out with evidence that the money was disbursed and cash backed.”
The chairman further explained further that “once it is affirmed that the disbursement was not cash backed, NNPC will be left off the hook.”
Source: The will

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