BY ABDULWAHAB ABDULAH

LAGOS—The Economic and Financial Crimes Commission, EFCC, has been petitioned to commence an immediate investigation into allegations that $20 billion oil money is missing from the account of the Nigerian National Petroleum Corporation, NNPC.

In the petition by Socio-Economic Rights and Accountability Project, SERAP, it requested the commission to “urgently begin a thorough, transparent and effective investigation into allegations that $20 billion oil money is missing from the account of the Nigerian National Petroleum Corporation, NNPC.”

The petition followed the last week allegation by the Central Bank,CBN, Governor, Lamido Sanusi, that “NNPC is operating a racket through which the federation has been losing billions,” at the resumed Senate hearing on the matter.

The petition by its executive director, Adetokunbo Mumuni stated: “We are concerned about the lack of accountability of the NNPC, which is not consistent with the attitude of a government establishment funded with tax payers’ money. This lack of accountability partly explains why ordinary Nigerians do not trust the NNPC to deal with corruption within its systems. The NNPC will need to come clean with the Nigerian people if it is to enjoy their trust and confidence.”