Senate says Buhari, Kachikwu and Emefiele will be probed over NNPC's missing $6.9bn

The senate ruled that it was improper for funds not to be remitted by individuals and agencies at a time when Nigeria needed the funds the most.

The senate committee on oil and gas has been charged with investigating how the Petroleum ministry under President Muhammadu Buhari and Ibe Kachikwu could have let such happen. Also to be probed are NNPC GMD Karu and CBN governor Godwin Emefiele.

The motion was moved by Senator Dino Melaye of Kogi and was seconded by Senate majority leader Ali Ndume who noted that Melaye was on the right track.

Senator Melaye had in a point of order raised the motion on the misappropriation of funds by the NNPC and NDPC alleging that $3.48b and $3.442 were not remitted into the government’s coffers from both corporations.

"As youthful as Sen. Melaye is, he will not let out those figures if he has not done his necessary research," Senator Ndume said in support of the motion.

Ndume thanked Melaye for the Motion and urged President Buhari to take this motion with all seriousness.

"Nigeria is at the verge of borrowing, these funds should be refunded to the consolidated revenue account to tackle recession," Sen. J. Barau said.

"These are non-remitted billions of dollars at a time when we are seeking loans from IMF, World Bank, and the Bond Market," Senator Solomon Adeola submitted.

"Nigeria is faced with a lot of crisis, 70% Revenue generated from the oil sector is being withheld by an Agency of Government," Sen. Binta Garba said and urged the Senate to probe the allegations.

In his submission, senate president Bukola Saraki said such economic sabotage must be dealt with while also wondering what the minister of petroleum and others were doing while such a terrible was being carried out.

"The question is: where was the Minister of Petroleum, CBN Governor and GMD of NNPC when all these acts were carried out?

"We must put an end to these acts of sabotaging the efforts of the Anti-Corruption Agency," Saraki said.

The committee on oil and gas has now been charged to thoroughly investigate the matter and return back to the House with its report on January 9, 2017.

Recall that it emerged just recently that around $12.9billion was said to have gone missing from the coffers of the NNPC between 2005 and 2013.

The Economic and Financial Crimes Commission and other agencies are trying to trace the cash.

Source: Naij.com