Reps Grill Malami Over Missing $2.4bn Crude Oil Sale

The New Diplomat
Writer

Ad

Alleged Christian Genocide: Shehu Sani accuses Nicki Minaj of stoking tensions to appease Trump

By Obinna Uballa Former Kaduna Central senator, Shehu Sani, has issued a stern rebuke to Grammy-winning rapper Nicki Minaj, accusing her of exploiting Nigeria’s security challenges to win favour with United States President Donald Trump. His criticism comes amid a deepening diplomatic rift between Abuja and Washington over allegations of a “Christian genocide” in Nigeria.…

Tinubu postpones G20, AU-EU trips amid outrage over Kebbi abductions, Kwara church attack

By Obinna Uballa President Bola Tinubu has postponed his planned trip to South Africa and Angola following fresh security breaches in Kebbi and Kwara States that have heightened national anxiety. The President was scheduled to depart Abuja today for the 20th G20 Summit in Johannesburg and later proceed to Luanda for the 7th AU-EU Summit…

Why Big Oil Is Still Gushing Profits Despite Low Oil Prices

Despite oil prices trading about $15/bbl below their 52-week highs, Big Oil firms—Exxon, Chevron, Shell, and TotalEnergies—collectively earned over $21 billion in Q3. Exxon’s breakeven has fallen to ~$40/bbl through automation and efficiency gains. Shell and TotalEnergies leveraged market volatility from new Russia sanctions, with trading profits soaring as Shell’s U.S. trading arm generated $1…

Ad

By Charles Adingupu 

For a considerable number of hours, Lawmakers at the Green Chambers engaged the Attorney General of the Federation (AGF), Abubakar Malami over the mysterious disappearance of a whooping $2.4billion crude oil sales.

The AGF who is appearing before an Adhoc committee of the House maintained his earlier stance that he was unaware of the missing funds.

Mr. Malami who responded to the request of the committee members to produce the statement of accounts of recoveries made since 2015, disclosed that so far, his office has successfully recovered over one billion dollars ($1bn) for the country.

The ad hoc committee of the House of Representatives is currently investigating the alleged missing 2.4 billion dollars in revenue from 48 million barrels of crude oil in 2015.

Both parties also disagreed on the interpretation of the single account of the Federation as stated in the constitution.

Although, the present administration and the Ninth National Assembly are approaching their end, the AGF agreed to work with the committee to get to the root of the missing funds.

Meanwhile, the Minister of Finance, Zainab Ahmed and the Governor of the Central Bank of Nigreria (CBN), Godwin Emefiele are yet to make an appearance before the House Committee.

Ad

X whatsapp