ACCOUNT FOR ‘MISSING $2.04BN, N164BN OIL REVENUES IN 7 DAYS, SERAP TELLS KYARI’S NNPCL

From Lateef Taiwo

Socio-Economic Rights and Accountability Project (SERAP) has urged Mr Mele Kolo Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited to “promptly account for and explain the whereabouts of the alleged missing USD$2.04 billion and N164 billion oil revenues.”

SERAP said the allegations are documented in the latest annual report recently published by the Auditor-General of the Federation.

SERAP urged Mr Kyari “to name and shame those responsible for siphoning of the oil money, surcharge them for the full amount involved, and hand them over to appropriate anticorruption agencies, as provided for under paragraph 3112(ii) of the Financial Regulations 2009, and recommended by the Auditor-General.”

SERAP also urged him “to ensure the full recovery and remittance of the missing USD$2.04 billion and N164 billion into the Federation Account without further delay.”

In the letter dated 17 February 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “The missing oil revenues have further damaged the already precarious economy in the country and contributed to very high levels of deficit spending by the government.”


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