Politics Senate Hearing: No 10.87billion Dollars Is Seated In NNPC – Group GMD - Channels

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The Central Bank Governor, Sanusi Lamido Sanusi, and the Finance Minister, Ngozi Okonjo-Iweala have been giving testimonies at the investigative hearing by the Senate Committee on Finance, into the alleged missing $20 billion oil money.

Mr Sanusi told the hearing that regardless of the explanations from the Finance Minister, as far as the CBN was concerned, there is an outstanding $20 billion between what NNPC shipped and what it paid to Government.

Mr Sanusi insisted that the outstanding 6 billion Dollars given to the Nigerian Petroleum Development Company (NPDC) should have gone to the Federal Government and that the CBN received 3 legal opinions on that matter while offering to bring lawyers to defend that claim.

The Finance Minister, Okonjo Iweala, however said that the NNPC supplied documents from the Petroleum Products Pricing Regulation Agency, PPPRA, showing how the initial outstanding 10.8 billion dollars was spent.

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Source: Channels TV

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