Politics Sanusi was Wrong About Alleged Missing $49.8bn, Says Senate • Rejects Proposal to Stop Fuel Subsidy


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IT is not true that $49.8 billion oil money is missing from the Federation Account as alleged by a former Governor of the Central Bank of Nigeria, Malam Sanusi Lamido Sanusi, the Senate declared Thursday.

Adopting the report of its Finance Committee, which investigated the matter, the upper legislative chamber, however, rejected a recommendation that subsidy on petroleum products be halted.

And Senate President, David Mark declared that both the legislative and executive arms of the Federal Government were guilty of failure to fight the inefficiency in the petroleum industry.

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Source: #GuardianNigeria