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Breaking: Presidency vows to recover $7bn CBN bailout to banks

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By Soni Daniel, Abuja

The Presidency on Wednesday vowed to take all necessary measures to recover the $7 billion which the Central Bank of dashed commercial banks in 2006 as bailout cash.

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The chairman of the Presidential Committee on the Recovery of Public Property, Mr. Okoi Obla-Obono, made the resolve of the government public at a public event organized by some civil society groups on the controversial Oil Prospecting Lease 245 in Abuja.

Obla-Obono also said the federal government was also investigating an unnamed top politician for running 20 companies in a European tax haven so as to evade tax payment to Nigeria.

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The presidential aide also disclosed that a leading oil firm that has withheld $1.9 billion oil revenue payment to Nigeria was being investigated and would be sanctioned for economic sabotage.

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