Investigation has been launched into the 413 billion naira funds the federal government borrowed from the Central Bank of Nigeria, CBN for subsidy payments.
The House of Representatives Ad-hoc Committee said the probe is to determine whether the said amount was refunded after the passage and assent of the 2015 budget, as earlier approved by the President at that time.
Chairman of the Committee, Ibrahim Mustapha Aliyu, while submitting its report to the House also urged the Federal Government to put in palliative measures to mitigate the effects of subsidy removal on Nigerians.
The report also demanded that the government halt the direct sale of crude oil and take measures to determine the nation’s actual crude oil production.
It added that the Nigerian National Petroleum Company Limited, NNPCL should act by the provision of the PIA to ensure that the country is not short-changed in the production, lifting and sales of crude oil.
