Senate summons CBN Governor the second time over ‘missing’ $9.5m

The Nigerian Senate Committee on Public Account has given the Governor of Central Bank of Nigeria, CBN, Godwin Emefiele till Thursday to appear before it over an alleged missing $9.5m interest accrued from Petroleum Profit Tax, PPT, investment.

The principal sums deposited, the tenor, and rate of interest were shrouded in secrecy, according to the Senate panel chaired by Senator Matthew Urhoghide Petroleum Profit Tax, PPT, is a tax applicable to upstream operations in the oil industry.

It is particularly related to rents, royalties, margins and profit-sharing elements associated with oil mining, prospecting and exploration leases.

Speaking on the isssue, the Chairman of the Committee on Public Accounts said there are many issues the CBN Governor needs to respond to corroborate some statements of account.

He added that Apex Bank Governor has till Thursday this week to appear to address those issues before the Committee.

The committee summoned the officials of the apex bank over the alleged disappearance of the fund two weeks ago, but none of its officials appeared before the lawmakers.

The summons was sequel to the consideration of a report by the Auditor-General of the Federation which probed the spending’s of federal government agencies.

%d bloggers like this: