Reactions have continued to trail the allegation by the CBN governor that the Nigerian National Petroleum Corporation, NNPC, has failed to remit $20 billion into the coffers of the Federal Government, in a public hearing at the Senate, Tuesday.
Minority Leader of the House of Representatives, Femi Gbajabiamila, in his reaction told Vanguard that it’s a shame that such a huge amount could not be accounted for. “It simply brings home the position our caucus took at the budget debate,(Tuesday). The reason such colossal sums can disappear is because of the non-compliance with Section 21 of the Fiscal Responsibility Act and refusal of the Minister of Finance to submit the detailed estimates of agencies such as NNPC to the National Assembly as prescribed by law. It is a crying shame and an indictment on the NASS that it has taken the Governor of CBN to discover what we should have, had we properly discharged our oversight functions by insisting on compliance with the Fiscal Responsibility Act,” he said.
In the same vein, Rep Pally Iriase (APC, Edo State), said Nigerians should show concern on the issues of accountability in government agencies.
His words: “Nigerians should be concerned about the lack of accountability by NNPC and even other revenue agencies. The latest revelation vindicates the House of Representatives’ insistence that the current budget must comply fully with the Fiscal Responsibility Act”.
On his part, Rep Abiodun Faleke (PDP, Lagos) said CBN would be invited to give further explanations on the unremitted fund. “It is shocking. We will write him to request for the details for our investigation,” he said.
Chairman, House committee on e-Parliament, Rep Razaq Bello-Osagie said: “This ugly development is unfortunate and a show of shame. Nigeria is now a laughing stock in the comity of nations. This has vindicated our position at the National Assembly for insisting that the 2014 budget estimates forwarded to the National Assembly by the Executive must be accompanied by details of budget estimates of Agencies and corporations under the Federal Government.”
Senator Olubunmi Adetunmbi, Ekiti State, called for vigilance so that the allegation is not swept under the carpet, noting that issues of public finance, transparency and accountability should be taken seriously.
Adetumbi who is the Vice Chairman, Senate Committee on Interior, said: “It is only when all unremitted funds are accounted for that Nigerians will be assured that they have not been short-changed. The time has come for all Nigerians to show more interest and pay serious attention to issues of public finance, transparency and accountability. I have been watching with keen interest the ongoing investigations on the alleged unremitted $49.9bn funds, now reviewed downwards to $20bn by the CBN Governor from oil exports into the Federation Account.
Also reacting in a telephone interview with Vanguard, former Governor of Ekiti State, Otunba Niyi Adebayo, said: “No matter the figure Sanusi mentioned, it is obvious that money is missing. Whether it is $10 billion, $12 billion or $20 billion, it is obvious that money is missing and it should be investigated.”
Senator Emma Anosike from Anambra State, however, flayed the CBN governor, accusing him of playing to the gallery. “I feel so disappointed in the sense that the Central Bank Governor should stop playing to the gallery. The last time he spoke to this country, he came out, first of all made an allegation and the second time, he came and apologized that he had reconciled with them. This time around, he has said that $20 billion is missing. Who do we believe? How do we have confidence in this kind of person?”
Sanusi, however, found strong support from the Conference of Nigerian Political Parties, CNPP saying the body entirely agreed with Sanusi. Mr. Okechukwu told Vanguard that, “one entirely agrees with the Governor of the CBN that money is missing from revenue accruing to Nigeria between January 2012 to July 2013; the only missing link is the exact amount, but the truth remains that some money was stolen.
An excerpt from a report from vanguard newspaper Nigeria.
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