Missing $20Billion: NNPC Dismiss Allegations By CBN Governor

Credit: NNPC Home page
Credit: NNPC Home page

The Nigerian National Petroleum Corporation, NNPC, has dismissed the $20 billion dollar allegation made by the CBN Governor, calling it baseless.

The Acting Group General Manager Public Affairs, Dr. Omar Farouk Ibrahim said that Nigerians should not take the CBN Governor seriously since this is not the first time he would be making what he calls a wild allegation.

Sanusi had told the Ahmed Markafi Senate Committee probing the allegation of unremitted funds, that the NNPC shipped 67billion dollars in crude and only 47 billion dollars had come back to the Federation. Therefore the NNPC has to proof where the 20billion Naira is.

The NNPC boss expressed surprise that in spite of extensive clarification on the matter, Mallam Sanusi was still confusing the role of NPDC as part of NNPC’s.

According to him, ‘‘Let me make this point clear that CBN is a banking outfit, not a petroleum outfit.

“It is therefore understandable why they keep making unsubstantiated claims, which a little understanding of the technicalities of the oil industry would have saved them from making.

“The CBN is not an auditing outfit but what it is doing now is auditing.”

The Senate committee expects the NNPC to make their own presentation before it, and the meeting has been adjourned till 10am on Thursday, February 13, 2014.

Content Credit: Channels TV


  1. Sanusi should be cautioned, he does not have full grasp of banking, majoring in Islamic studies, talk more of oil transactions.His appointment was a mistake.

  2. clifford Asu

    @ maltos,like seriously!!! You think so or you know so?with all his accomplishment.
    please it is better you don’t get involved if you don’t have anything reasonable to contribute Oshi.

    Please the upper house should take a proper look at the accounting books from the N.N.P.C,for once you people should do something right,the whole world is watching at the rate of corruption in Nigeria.

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