Market News

House dismisses alleged missing 48m barrel of crude oil - THE NATION

JUNE 07, 2023

The House of Representatives has dismissed allegations of missing 48 million barrels of crude oil valued at over $2.4 billion while asking the government to consider prosecuting those who might come up with similar allegations in the future. 

The decision followed recommendations by the ad hoc committee set up by the House to investigate whistleblower allegations of the missing crude in China. 

The immediate past Attorney General of the Federation and Minister of Justice, Abubakar Malami had dismissed the allegation, saying there was no evidence pointing to any missing crude. 

The House however asked the 10th Assembly to carry out further investigation into the alleged payment of N16. 5 billion to two companies without records by the Central Bank of Nigeria (CBN). 


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