The Senate on Wednesday mandated its committee on Finance to investigate alleged missing $49.8 billion crude oil funds.
All Progressives Congress (APC) Senators however vowed not to allow the alleged missing money be swept under the carpet.
Senate President, David Mark, asked the Senator Ahmed Makarfi led Finance Committee to turn in report of the investigation “at the earliest possible time because it requires urgent attention.”
The resolution to probe the alleged missing money followed a Point of Order raised by Senator Olubunmi Adetunmbi (Ekiti North) on the development.
Relying on Order 42 which deals with matter of urgent public attention, Adetunmbi drew attention of the Senate to a newspaper publication of “$49.8 billion ‘missing’ oil money.”
He described the development as “a very grave issue that the parliament owed the public the duty to follow up.”
He explained that the matter of how the economy was being managed and the issue of oil revenue were raised at a Public Account Committee meeting where they resolved to seek answers to certain questions raised by the Central Bank of Nigeria (CBN).
Adetunmbi said that the CBN Governor, Sanusi Lamido Sanusi had graciously responded to the inquiries of the committee and offered information and detailed value of crude oilexports and proceeds repatriations.
The lawmaker noted that the CBN Governor’s response showed clearly the proceeds of crude oil sales which should have accrued to the Federation Account.