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Nigeria loses over N3trn in 4-yr — Reps

…uncovers NNPC acccount in US

By Tordue Salem

Abuja – What the  Federal Government of Nigeria has lost to non-remittances by agencies in the last four years has amounted to a little over N3trillion, more than the 2009 budget, Chairman of the House of Representatives Committee on Finance disclosed yesterday.

Besides, the Chairman of the Committee on Gas Resources has allegedly discovered N250billion as part of the interest accrued from an un-remitted $4.5billion made within 4 years by the Nigerian Liquefied Natural Gas, NLNG to a local account and over $1billion of the funds to JP Morgan, a bank in Chicago, the United States .

The lawmakers led by Chairman, House Committee on Media & Publicity, Eseme Eyiboh spoke in Abuja during an interactive session.

“The House of Representatives’ probe of $4.5billion NLNG missing fund, between a space of four years, and other un-remitted revenues to the Federation Account, is a little more than N3trillion.

You will discover that monies not remitted for just 4 years, is more than the entire budget of 2009”, Enoh said.

He said the Committee however, discovered at the Accountant General’s Office that only $127million of the NLNG fund was remitted to the Federation Account by the NNPC.

He, however, assured that every kobo of money must be included in the 2010 budget, as according to him the House of Representatives will not allow the money go unaccounted for.

The Chairman of the Committee on Gas Resources and Chairman of the Ad hoc Committee investigating the activities in the Nigerian National Petroleum Corporation (NNPC), Rep. Igo Aguma, said the ad hoc committee had traced some of the NLNG ‘missing’ funds to a local account and another over $1billion to an account in the United States .


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