Reps Threaten CBN Governor With Arrest Over N6trn Oil Proceeds

A House of Representatives panel has threatened to issue an arrest warrant against the Central Bank of Nigeria (CBN) governor, Godwin Emefiele, for failure to appear before.

The panel is seeking relevant documents on the alleged non-remittance of N6 trillion oil proceeds.

The ad-hoc committee on the matter, chaired by Rep Abdulrazak Namdas (APC, Adamawa), said it invited Emefiele to furnish it with relevant information yesterday but that he neither appeared nor sent any representative.

The committee said it had sent letters to different government agencies and other companies to forward certain details to it, but that while others responded, the apex bank has been dilly-dallying.

“We are an adhoc committee that works with time. We are disappointed that the CBN is trying to drag us back. We’re not witch-hunting anybody. This is a mere allegation,” Namdas said.

The House had in September last year said based on a report by a consultant appointed under the administration of Goodluck Jonathan, Nigeria’s crude oil worth $12billion was shipped to the United States between 2011 and 2014, with another $3 billion worth shipped to China, while $839.5 million crude was taken to Norway.

The figures were ascertained by buyers, bill of lading, arrival dates, destination ports, quantity of crude and other documented information, but that the country has $17bn recoverable shortfalls from the crude exports.


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