The Nigeria Governor’s Forum headed by Governor Rotimi Amaechi has called on the National Assembly not to allow the alleged missing $49.8 billion go without investigation.
The contention of the whereabouts of the fund was first brought to public knowledge by Central Bank Governor Lamido Sanusi who eventually incurred the wrath of the Presidency.
Efforts by the Ministry of Finance, the NNPC, CBN and other agencies brought to the fore that the actual amount missing was $10.8 billion. This fund after another reconciliation was then said to not be missing at all, but allegedly had been used by the NNPC in order to fulfill their obligation to the Federal Government and Nigerians.
But the Amaechi led NGF is not buying it and have called for an in-depth investigation by the National Assembly.
According to a communique issued by the NGF after their meeting on Wednesday night, a comprehensive forensic audit would be required.
The communique reads in part: “On the issue of the missing $49.8 billion (N8.5 trillion) or equivalent of two years of the National Budget, there is no evidence that this amount was paid into the Federation Account or duly appropriated.
“We accordingly call on the National Assembly to institute a comprehensive independent forensic audit by an international reputable firm.
“We fear that the recent decline of state revenues is not unconnected with the financial diversion.
“In clear breach of the provision of Section 11, Part II of the Fiscal Responsibility Act, 2007, which requires the Federal Government to hold consultations with states before the Medium-Term Expenditure Framework (MTEF) is laid before the National Assembly; consultation with states on the MTEF and Fiscal Strategy Paper (2014-2016) did not hold.
“The National Economic Council (NEC) meeting where issues of this nature would have been discussed last held four months ago.
“We note with total dismay the recent violent attacks and killings that have taken place in Borno State, as well as the attack on the father of the Kano State governor.
“We also condemn the flagrant violation of the rights of citizens to freely assemble in Rivers State by the Nigerian Police; the excessive use of force against unarmed citizens in the exercise of their fundamental rights and the shooting of Senator Magnus Abe.
“The financial irregularities relating to public accounting, the lack of compliance with the Fiscal Responsibility Act, 2007, and the recent security breaches are not unconnected with the refusal of the Federal Government to convene meetings of statutory institutions created in the Constitution, such as the National Economic Council (NEC), the Council of State, the Nigeria Police Council and meetings of the Federation Account Allocation Committee (FAAC). We urge a return to the path of constitutionalism”.