The Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido, on Wednesday told the Senate that the conclusion that $49.8 billion oil revenue was missing was wrong.
The CBN Governor also told the lawmakers that the letter he wrote to President Goodluck Jonathan about possible non remittance of accurate oil earnings to the Federation Account was an invitation to probe remittances to the Federation Account.
He said though relevant government agencies had commenced reconciliation of their accounts, about $12 billion was still outstanding.
Sanusi made the observations at a public hearing organised by the Senate Committee on Finance on alleged missing of $49.8 billion oil earning.
The Senate had mandated its committee on Finance to investigate alleged missing $49.8 billion crude oil funds.
Senate President, David Mark, asked the Senator Ahmed Makarfi led Finance Committee to turn in report of the investigation “at the earliest possible time because this requires urgent attention.”
The resolution to probe the alleged missing money followed a Point of Order raised by Senator Olubunmi Adetunmbi (Ekiti North) on the development.
Relying on Order 42 which deals with matter of urgent public attention, Adetunmbi drew attention of the Senate to a newspaper publication of “$49.8 billion ‘missing’ oil money.”
He described the development as “a very grave issue that the parliament owed the public the duty to follow up.”
Mark, in his opening remarks at the public hearing noted that the essence of the hearing was to establish the fact about the alleged missing $49.8 billion oil revenue.
He said that what the Senate had was an allegation, though a serious allegation.
He noted that the Senate has no position on the issue except what was published in the papers.