Business CBN, NNPC meet over Allegedly Missing $49.8bn

On Tuesday, the Central Bank of Nigeria (CBN) and the Nigerian National Petroleum Corporation (NNPC) held a reconciliation meeting over the allegedly missing $49.8bn.

The meeting was convened following the order of the Presidency to probe allegations that 49.8 billion dollars oil revenue between January 2012 and July 2013 was purportedly missing.

Mr Farouk Ibrahim, General Manager (Public Affairs) NNPC, who addressed newsmen briefly during the meeting said progress was been made and soon the mystery of the controversy trailing the allegedly missing $49.8bn will be unraveled.

The meeting was chaired by Mr Dandali Kifasi, Permanent Secretary of the Ministry of Petroleum Resources, officials from the CBN as well as the ministries of finance and petroleum resources attended the meeting. Others in attendance were representatives from the Federal Inland Revenue Service, the Department of Petroleum Resources, the Budget Office, the NNPC and some presidential aides.

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