The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has been summoned by the Senate Public Accounts Committee (SPAC) before Thursday, to appear before it over the sum of $9.5m interest which accrued to the Federation Account from Petroleum Profit Tax Investment that allegedly disappeared.
SPAC made the allegation while scrutinising the reports of the AuGF during its sitting on Monday.
The Chairman of the Senate panel, Senator Matthew Urhoghide, said Emefiele should appear to corroborate some figures in the statements of account.
The summon was sequel to the AuGF report which probed the spendings of federal government’s agencies.
The report read in part: “During the examination of transfers to Foreign Excess PPT/Royalty and Foreign Excess Crude Accounts, it was observed that during the year 2016, amount totalling $6 million and $3.5 million were credited to the Foreign PPT/Royalty and Foreign Excess Crude Account as interest on funds investments.
“The authority for placing the funds which yielded the above interests totaling $9.5 million in deposit account, the principal sums deposited, the tenor and rate of interest were not made available for audit verification.
“This observation had also been a subject of my reports since 2017 without any positive response from Central Bank of Nigeria.
“Records made available for audit further revealed that the balance in the foreign PPT/Royaltt and Foreign Excess Crude accounts as at 28th December 2016 were USD0.00 and USD251,826 respectively.
“This suggest the foreign PPT/Royalthy was depleted before the year end.
“The Accountant General has been requested to provide the authority for the funds invested, tenor of the investment, rate unrest payable, certificate for the funds invested and forward same for audit verifications.”