THE Senate, on Tuesday, dissociated itself from the N2.5 billion loan deal scandal currently rocking the Nigeria National Petroleum Corporation (NNPC).

Two members of the Senate, including its spokesman, Senator Enyinnaya Abaribe and its Committee Chairman on Petroleum (Downstream), Senator Magnus Abe, said the legislature did not, at any time, authorise the borrowing.

Senator Abaribe said, “Under the law, no government agency can borrow money without the approval of the National Assembly.

“We have to know if that was done first. But then the question to ask under the circumstance is, what happened to the N161billion supplementary appropriation that was approved by the National Assembly for government to take care of the shortfall in the fuel subsidy budget, particularly to ensure steady supply of petroleum product during the yuletide.”

In the same vein, Senator Abe, said there was no record showing that approval was given to NNPC to borrow the money.

“As at this afternoon (Tuesday), there’s no record of the loan deal before us. We are still trying to confirm the loan from NNPC.

“The committee read about the loan deal on the pages of newspapers like other Nigerians and we have had concerned Nigerians calling to ask whether the National Assembly approved the loan. We have no record of such before us,” he said.

http://www.tribune.com.ng/news2013/index.php/en/component/k2/item/2685-senate-didn%E2%80%99t-approve-nnpc-$15bn-loan-deal-spokesmen

Anyway,the story continues..and will soon be swept under the carpet.[b]THE Senate, on Tuesday, dissociated itself from the N2.5 billion loan deal scandal currently rocking the Nigeria National Petroleum Corporation (NNPC).

Two members of the Senate, including its spokesman, Senator Enyinnaya Abaribe and its Committee Chairman on Petroleum (Downstream), Senator Magnus Abe, said the legislature did not, at any time, authorise the borrowing.

Senator Abaribe said, “Under the law, no government agency can borrow money without the approval of the National Assembly.

“We have to know if that was done first. But then the question to ask under the circumstance is, what happened to the N161billion supplementary appropriation that was approved by the National Assembly for government to take care of the shortfall in the fuel subsidy budget, particularly to ensure steady supply of petroleum product during the yuletide.”

In the same vein, Senator Abe, said there was no record showing that approval was given to NNPC to borrow the money.

“As at this afternoon (Tuesday), there’s no record of the loan deal before us. We are still trying to confirm the loan from NNPC.

“The committee read about the loan deal on the pages of newspapers like other Nigerians and we have had concerned Nigerians calling to ask whether the National Assembly approved the loan. We have no record of such before us,” he said.

http://www.tribune.com.ng/news2013/index.php/en/component/k2/item/2685-senate-didn%E2%80%99t-approve-nnpc-$15bn-loan-deal-spokesmen

Anyway,the story continues..and will soon be swept under the carpet.[/b]THE Senate, on Tuesday, dissociated itself from the N2.5 billion loan deal scandal currently rocking the Nigeria National Petroleum Corporation (NNPC).

Two members of the Senate, including its spokesman, Senator Enyinnaya Abaribe and its Committee Chairman on Petroleum (Downstream), Senator Magnus Abe, said the legislature did not, at any time, authorise the borrowing.

Senator Abaribe said, “Under the law, no government agency can borrow money without the approval of the National Assembly.

“We have to know if that was done first. But then the question to ask under the circumstance is, what happened to the N161billion supplementary appropriation that was approved by the National Assembly for government to take care of the shortfall in the fuel subsidy budget, particularly to ensure steady supply of petroleum product during the yuletide.”

In the same vein, Senator Abe, said there was no record showing that approval was given to NNPC to borrow the money.

“As at this afternoon (Tuesday), there’s no record of the loan deal before us. We are still trying to confirm the loan from NNPC.

“The committee read about the loan deal on the pages of newspapers like other Nigerians and we have had concerned Nigerians calling to ask whether the National Assembly approved the loan. We have no record of such before us,” he said.

http://www.tribune.com.ng/news2013/index.php/en/component/k2/item/2685-senate-didn%E2%80%99t-approve-nnpc-$15bn-loan-deal-spokesmen


Anyway,the story continues..and will soon be swept under the carpet.

This country sef