TAKEN FROM (www.nigeriantimes.ng/news/item/967-49-8billion-not-missing-okonjo-iweala)
[imghttp://www.nigeriantimes.ng/media/k2/items/cache/c5c3ef3b8b263faba0c86cf911308716_XL.jpg][/img]

Coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala has said that the controversial $49.8b which the Central Bank of Nigeria?s governor, Lamido Sanusi accused the Nigerian National Petroleum Corporation of not remitting to the Federation Account has been accounted for substantially, declaring that the money is not missing.

Okonjo-Iweala who held a joint briefing with the Minister of Petroleum Resources, Diezani Alison-Madueke, NNPC?s Group Managing Director, Andrew Yakubu, and Central Bank of Nigeria Governor, Sanusi Lamido Sanusi in Abuja, declared that the $49.8b is not missing.

She however acknowledged that between the period of January 2012 and July 2013, a shortfall of $10.8b has been agreed to by the NNPC but the magnitude was still in dispute and reconciliation ongoing.

According to her, ?What we have done so far shows that for the $49.8billion and that is the first point we want to make, there are some perhaps misconceptions or misunderstandings that led to this number and we have been able to come to the conclusion that we can account for this amount and the second point is that within this, yes, there are some shortfalls that both the NNPC and the ministry of finance have been working on for quite some time and even the CBN as an ongoing matter and we will come to do that through the FAAC committee. And we will address that. But the first point is the $49.8billion, to clarify that we have been able to account for this amount.
?We have been able to get to the bottom of the $49.8billion that was indicated in the CBN memo. But also due to the way the accounting for the crude was done, some of it that was being lifted for other parties to the tune of $24billion was said to be missing but it has been accounted for. So the bulk of the sum of $49billion has been accounted for and that is what the reconciliation exercise is about. So it is very clear that this is not missing. READ MORE HERE (www.nigeriantimes.ng/news/item/967-49-8billion-not-missing-okonjo-iweala).

really?