Nigeria Continues Investigation of $67 Billion in Missing Oil Money

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Written by Makula Dunbar

 

In a recent video, CCTV Africa reported that investigation of Nigeria’s missing oil money is still underway. The senate committee is waiting for more details from the country’s national petroleum corporation as local lawyers, who’ve spoken out, say that there is substantial weight and more information behind the central bank’s claims. While the search for official documents for the original $67 billion in oil revenue continues, work on behalf of The Economic International Crimes Commission is being considered.

“Forty-seven billion has been repatriated to the central bank. Now, what we’re talking about is the balance of $20 billion — and what explanations have been given,” Sanusi Lamido, Central Bank of Nigeria Governor said in the report.

Andrew Yakubu, Nigerian National Petroleum Corporation (NNPC) group managing director, disagreed with Lamido stating that the bank is not in a position to fully grasp oil revenue tracings.

“CBN is a banking outfit, so I really,really understand why they would not understand some issues,” he said.