Nigerian House of Representatives has commenced inquisition into the forty billion dollars ($40bn) fund recovered by the Economic and Financial Crimes Commission, EFCC, and remitted to the Central Bank of Nigeria, CBN, that is not accounted for in any available record.
Hence, the Reps ordered the Central Bank to provide details of the missing fund allegedly domiciled in an account with the apex bank.
The team from the NationalAssembly in charge of the query of the fund is the Representatives’ Public Account Committee, PAC, and has since launched their investigations to ascertain the whereabouts of the money.
Representatives’ Committee Commences Investigation
Meanwhile, the committee has already forwarded an audit query from the office of the Auditor-General of the Federation, AuGF to the apex bank.
According to the query, for four years starting from 2016, the funds have not been remitted into the account from the EFCC recoveries.
However, Oluwole Oke, the chairman of the committee, spoke during the committee’s public hearing sitting, stating that Godwin Emefiele, the Governor of Central Bank did not give any standard and convincing documents before the committee that would help trace the status of funds in the recovery account.
