Femi Falana
Femi Falana

Human rights Femi Falana (SAN) has charged the President Muhammadu Buhari-led administration to react to the missing $470.4m and N8.8b which the police said NNPC claimed to have paid into the coffers of the federal government.

Reacting, NNPC had dismissed that allegations, stating that it did not hide money in any bank.

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In a statement on Sunday, Falana charged the federal government not to remain mute on the issue.

The statement reads: “Last week, the Nigeria Police Force (NPF) claimed to have recovered some huge public funds, including the sum of $470.4 million and N8.8 billion belonging to the Nigerian National Petroleum Corporation (NNPC) BRASS/LNG hidden in some commercial banks in the country.

“According to the Police Public Relations Officer, Acting DSP Jimoh Moshhod, the fund, which was recovered by the Monitoring Unit of the Inspector-General of Police, Mr. Ibrahin Idris, was part of the unremitted revenue by the NNPC to the Treasury Single Account (TSA) in the Central Bank of Nigeria in violation of President Buhari’s directive that all public funds be domiciled in the TSA.

“Instead of seeking clarification from the Police authorities, the management of the NNPC swiftly dismissed the report and claimed that there was no missing fund.

“It is strange that the authorities of the Nigeria Police Force did not contact the NNPC Management before announcing the recovery of the said sum of $470.5 million and N8.8 billion.

“However, notwithstanding the lack of coordination on the part of both institutions, the Central Bank of Nigeria ought to confirm the receipt of the missing fund, which is alleged to have been deposited in the TSA.

“Apart from explaining the whereabouts of the money, the Federal Government should declare and account for all the funds recovered since 1999 in line with the order obtained from the Federal High Court by the Socio-Economic and Accountability Project (SERAP).”