Reps Query CBN Over Recovered $40m Loot

Hamilton Nwosa
Writer

Ad

Shettima Jets Out of the U.S for Germany

By Abiola Olawale Vice President Kashim Shettima has departed New York for Frankfurt, Germany, immediately after his representation at the 80th United Nations General Assembly (UNGA 80). This was contained in a press statement issued on Sunday by his media aide, Stanley Nkwocha Nkwocha disclosed that the Vice President is now headed to Germany where…

SERAP Writes Tinubu, Demands Transparency in INEC’s Boss nomination

By Abiola Olawale The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to unveil the details of the selection process for the next Independent National Electoral Commission (INEC) chairman. With Professor Mahmood Yakubu's decade-long tenure set to expire in November 2025, SERAP warned that opacity in the appointment of the next…

Dangote Refinery: Crisis Cripples oil, gas supplies as PENGASSAN Declares Nationwide Strike

By Abiola Olawale In an escalation of tensions in Nigeria's oil and gas sector, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has announced an indefinite nationwide strike starting Monday, September 29, 2025. The move comes in response to what the union described as the "unlawful dismissal" of over 800 Nigerian workers…

Ad

The Central Bank of Nigeria (CBN) has been directed to provide details of the $40m recovered by the Economic and Financial Crimes Commission (EFCC) in the recovery account domiciled in the apex bank.

The House of Representatives’ Public Accounts Committee (PAC) on Tuesday launched an investigation into the alleged missing of the said funds based on an audit query from the office of the Auditor-General of the Federation (AuGF) to the CBN.

According to the query, for four years starting from 2016, the funds have not been remitted into the account from the EFCC recoveries.

The chairman of the committee, Oluwole Oke while speaking during the committee’s public hearing sitting said the CBN governor, Godwin Emeifiele, had failed to tender relevant documents before the committee that would help ascertain the status of funds in the recovery account.

Oke asserted that the CBN must bring all the relevant documents demanded by the committee to ease their investigation towards recovering the funds for the government.

The CBN governor was represented by the Deputy Director, Banking Supervision, Mrs Iguaduna Due C.I whom the committee said could not provide satisfactory explanation answers on the status of the funds being investigated by the committee.

The committee, therefore, ordered that the CBN should provide all the needed documents required by the committee on all recovered funds within seven days.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp