Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, yesterday, reversed initial position that 49.8 billion dollars realized from the sales of crude oil between January 2012 and July 2013 was missing.Sanusi had averred that the revenue was expected to be remitted to the federation account by the Nigerian National Petroleum Corporation, NNPC.
He further explained that “the major progress has been the provision of Monetary Policy Committee, PMC, by the MPC documents to show that even though they did ship that amount in question which is a little more $67 billion, about $24billion was actually not their crude but crude shipped on behalf of third parties like oil companies, tax in crude and also for third party financing and so, that already addresses half of the amount.”
“So, the second half is the issues around domestic crude lifting of $28billion from which we feel there is a short fall, there is a general consensus among us on this even though the amount has been disputed. For us in Central Bank, there is a shortfall of $12billion”, he disclosed.
But even with the amount, he said the CBN was still in the process of reconciling the amount.
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