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Reps to CBN: Provide details of $40m recovered by EFCC

The House of Representatives Tuesday directed the Central Bank of Nigeria (CBN) to provide details of the $40m recovered by the Economic and Financial Crimes…

The House of Representatives Tuesday directed the Central Bank of Nigeria (CBN) to provide details of the $40m recovered by the Economic and Financial Crimes Commission (EFCC) in the recovery account domiciled in the apex bank.

The House Public Accounts Committee (PAC) launched an investigation into the alleged missing of the said funds based on an audit query from the office of the Auditor-General of the Federation (AuGF) to the CBN. 

According to the query, for four years starting from 2016, the funds have not been remitted into the account from the EFCC recoveries. 

Speaking during the committee’s public hearing sitting on Tuesday, the chairman of the committee, Oluwole Oke said the CBN governor, Godwin Emeifiele, had failed to tender relevant documents before the committee that would help ascertain the status of funds in the recovery account.

Oke insisted that the CBN must bring all the relevant documents demanded by the committee to ease their investigation towards recovering the funds for the government.

The CBN governor was represented by the Deputy Director, Banking Supervision, Mrs IguadunaDue C.I whom the committee said could not provide satisfactory explanation answers on the status of the funds being investigated by the committee.

The committee, therefore, ordered that the CBN should provide all the needed documents required by the committee on all recovered funds within seven days.