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Missing N8tr: CBN, NNPC meeting deadlocked

17 December 2013, 16:00

Abuja -  A meeting of the Central Bank of Nigeria (CBN) and the Nigerian National Petroleum Corporation (NNPC) aimed at resolving the issue of the missing N8 trillion ($49.8b) oil revenue ended in a deadlock.

The meeting ran into stormy waters as both parties engaged each other in heated arguments and confrontations, reports Vanguard.

While the CBN insisted that the missing amount had not been remitted to the Federation Account, the NNPC stuck to its position that the amount claimed by the CBN is not missing; This led to a long altercation between the two parties.

Tempers flared during the course of the meeting, which lead to  Dandali Kifasi, Permanent Secretary, Ministry of Petroleum Resources, who presided the meeting, to walk out of the venue in anger .

Read more at Vanguard


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