Reps probe NNPC, CBN over N14.625tr scam

Bola Badmus, Abuja - 06.02.2009

THE House of Representatives Committee on Justice is investigating the Nigerian National Petroleum Corporation (NNPC) and the Central Bank of Nigeria (CBN) over an allegation that the two bodies squandered N14.625 trillion in the past five years.

The allegation of financial scandal was contained in a petition written by the Banking Ethics Organisation of Nigeria (BEON) to the Speaker, House of Representatives, Honourable ‘Dimeji Bankole.

Chairman of the committee, Honourable Henry Dickson, during the sitting of the committee on Thursday said the Speaker had mandated his committee to look into the petition in respect of the allegation with a view to ascertaining the truth.

Counsel for the petitioner, Mr. Ladi Rotimi-Willams, told the committee that the petition was in respect of the financial transactions between the NNPC and CBN, saying it was the belief of his client that a thorough investigation must be carried out.