Missing Funds: CBN, NNPC, AGF Face Reps, Today

The House of Representatives Committee on Public Accounts, yesterday issued a 24-hour ultimatum to the Acting Governor of Central Bank of Nigeria (CBN), Dr Sarah Alade and the Executive Director of Finance, Nigerian National Petroleum Corporation (NNPC), and Accountant General to the Federation (AGF), Mr Jonah Otunla, to appear before it to explain their various roles in the alleged missing N59.6 billion Service Wide Vote in 2006.
Representatives of NNPC, CBN and AGF had during the investigative hearing held yesterday denied knowledge about the disbursement of the fund.
In his submission, the NNPC General Manager, Accounts, Mr Sambo Aliyu, presented a letter written by the Budget Office in response to NNPC’s enquiry on the whereabouts of the missing fund.
He, however, noted that the Budget Office responded that the money was released to NNPC.
But when asked whether the money was released to NNPC, Aliyu responded that “the cash was not released, we did not see any money.”
While reacting to his submission, members of the committee insisted that all the relevant agencies should be summoned once again.
When the representative of CBN, Mr Dipo Fatokun was asked to explain what he knows about the missing fund, he simply replied, saying, “we will need to get the mandate from the AGF.”
Unhappy with his response, some of the lawmakers declared that Fatokun should come along with his superiors today as his response so far has not been encouraging.
When queried on the missing fund, a director, in the Budget Office, Mrs. Tayo Toluwase simply said she does not have all the relevant details on the issue.
While ruling, Chairman of the committee, Rep Olamilekan Adeola, ordered that the AGF should bring all the documents that involved the disbursement of the fund.
According to him, such documents should include all bank transactions between July and December, 2006, a copy of the Federation Account, copies of statements of accounts through CBN for the period under review.
He explained that “if there was any mandate on the said missing N59.6billion, it will show at a glance.
“We are tired of the excuses of all the agencies involved claiming ignorant at one stage or the other,” Adeola said.

Chairman, Rivers State Internal Revenue Service, Mrs Onene Osila Oshiko-Obele (left), presenting a sourvenir to Chairman, Rivers State House of Assembly Committee on Finance, Hon Josiah Olu, during the committee’s oversight visit to the Internal Revenue Service, last Thursday. Photo: Chris Monyanaga