ABUJA—Central Bank Governor, Sanusi Lamido Sanusi, yesterday, told the Senate Committee on Finance that of the $67 billion crude oil sales that was supposed to be remitted to the Federation Account, only $47 billion had been reconciled between the Nigeria National Petroleum Corporation, NNPC and CBN.
But the Committee’s Chairman, Ahmed Makarfi, cautioned the CBN Governor over making wild and unsubstantiated allegations without concrete and specific figures to back them up.
The NNPC, in a swift reaction, however, dismissed the allegation of another unremitted $20 billion oil revenue raised against it by the CBN.
It is uncertain how Sanusi came up with the fresh $20 billion unremitted funds against the initial $10.8 billion. The latter figure was arrived at during the account reconciliation with the Ministry of Finance, NNPC and CBN during a public hearing on alleged unremitted $49.8 billion oil revenue organised by the Senate.
CBN’s arguments
But the CBN Governor, while making the new allegation, stated: “All we have said as CBN to which there is no disagreement is that NNPC shipped $67bn worth of crude. They have repatriated or we have established that $47bn has come back to the Federation Account. There is a $20billion that has not come back to us. The burden of proof is on NNPC.
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