Senate committee announces recovery of N140 billion

Updated: 41 minutes agoAuthor: Adeola OpeyemiViews: 3214Category: Local newsFACEBOOKEMAILWHATSAPP- A Senate committee said it has recovered N140 billion from 32 leakage channels- The committee claimed that 60 companies voluntary remitted N12 billion while banks returned N128 billion- The money is reportedly part of the alleged loss of N30 trillion in Nigeria’s import and export value chainThe Nigerian Senate on Wednesday, October 18, said it has recovered N140 billion from 32 leakages linked to the alleged missing N30 trillion in Nigeria's import and export value chain.Senate Joint Committee on Customs, Excise, Tariffs and Marine Transport has also requested for additional eight weeks to carry out its investigations on leakages in the sector.

The Senate identified the 32 leakage channels as the major sources of revenue losses in the import and export business.Premium Times reports that the committee made this request for time extension while also disclosing that it had recovered over N140 billion from banks and companies following its probe into the alleged loss of N30 trillion in Nigeria’s import and export value chain.READ ALSO: Evans pleads 'not guilty' at continuation of trialThe committee chair, in the report it presented said: "As a result of this exercise, some collection banks have made additional remittances to the Central Bank of Nigeria to the tune of N128 billon and evidence of payment and receipt has been received by the committee.

“From the selected 60 companies, over N12 billion payment have been made to the government voluntarily by the companies based on their internal self-audit after receiving documented evidence of their culpability from our committee.PAY ATTENTION: Read the news on Nigeria’s #1 news app“It is instructive to note that despite all the payments so far made, none of the approved collection banks or the selected companies has fully cleared the established liabilities against them."Meanwhile, NAIJ.com previously reported that the Senate committee on ethics, privileges and public petitionshas invited Maikanti Baru, the groupmanaging director of the Nigerian National Petroleum Corporation (NNPC) and Osagie Okubor, the managing director of Shell Petroleum Development Company of Nigeria Limited, over the revocation of the licence of an oilfield, OML 13.

The oilfield was allegedly awarded to NNPC, a subsidiary of the company, through an executive fiat.The invitation followed a probe into the deal by the committee based on a petition to the Senate by Longers Anyanwu, the national coordinator, global peace and sustainability network.Are Nigerians truly tired of President Buhari? - on NA

What a country...

Animals everywhere..

If only I know, I for don drop from this car since..

I wish I was not born in this country,