$20B ‘MISSING’ OIL CASH DIVERTED TO POLL

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The Economic and Financial Crimes Commission (EFCC) has traced the diversion of the substantial part of the missing $20billion oil cash to the 2015 electioneering campaign of the Peoples Democratic Party (PDP). The anti-graft agency discovered how the cash was transferred and wired into secret accounts for political purposes.

It was learnt that the EFCC has made “appreciable progress” in recovering a huge chunk of the cash. Former Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi (now Emir of Kano Muhammadu Sanusi II) raised the alarm that there was an estimated $20bn shortfall in oil revenues due to the treasury from the state oil company which might have been spent illegally.

The EFCC latest discovery is said to be part of the ongoing “comprehensive” probe of a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

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