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Okonjo-Iweala calls for CBN audit over alleged missing $20 billion

Africtv - Mail Summary...
  • The Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, on Thursday called for independent forensic audit to resolve the puzzle over unremitted funds to the Central Bank of Nigeria (CBN).
Africtv - Mail News... Report
Okonjo-Iweala made the call at the Senate Committee on Finance hearing on the alleged missing $20 billion.

The News Agency of Nigeria (NAN) reports that Minister of Petroleum Mrs Deizani Alison-Madueke was also  at the hearing.

Also at the hearing were NNPC Group Managing Director, Mr Andrew Yakubu, and CBN Governor, Mallam Lamido Sanusi.

Okonjo-Iweala said the reconciliation committees called for back-up documents in order to verify the certified papers.

"Our judgment is that a proper examination of these documents requires technical expertise beyond the capacity of the reconciliation team.

"Therefore, we believe we should have an independent forensic audit to manage these submissions," she said

She said that the $20 billion alleged by the CBN as missing featured in the original reconciliation effort in the cascade presented by NNPC.

She said that the committee agreed that the issues surrounding the alleged fund was legal and required careful legal interpretation.

Earlier, the chairman of the committee, Ahmed Makarafi, had charged reconciliation group to carry out the forensic audit and get back to the committee in one month.

He said that the committee would reconvene on 20 February to enable the Attorney General of Federation to give a legal advice on the issue.
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