Undeclared $17bn Crude Oil Proceeds: House Of Reps Summon Central Bank Governor

The House of Representative, Thursday, February 23, gave  warning to the Central Bank Governor, CBN, Godwin Emefiele and ordered him to appear before the House over his failure to intimate the lawmakers on details, of an alleged $17bn oil proceeds from sales of crude oil between 2011 and 2014.


The Chairman of the House ad hoc  committee, Rep, Abdulrazaq Namdas, investigating the matter, said it has been provided required documents by International oil companies allegedly involved in the deal. However, failure of the CBN governor to provide necessary details, is hindering investigation.
Namadas, said the CBN responses so far have been conflicting, for that reason, it is necessarily for Mr Godwin Emefiele to appear before the House to clarify issues within 1 w eek or risk facing arrest.
The Ministry of Finance, The Nigerian National Petroleum Resources, The Department of Petroleum Resources,The Nigerian Maritime Administration and Safety, The Nigerian Navy  and The Nigerian Custom Services together with many International Companies have all been summoned by the Committee.
The Chairman further reiterated that the details required from the Central Bank Governor are vital to the commencement of the investigation.