Business
Adeosun, Emefiele in soup over $462 million controversy
The Minister of Finance, Kemi Adeosun and the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has been summoned by the Senate over the alleged withdrawal of $462 million from the federation account without approval of the National assembly.
Also summoned to give reasons for the said withdrawal is Mansur Dan-Ali, minister of defence.
The upper legislative chamber summoned the trio after Sam Anyawu, a senator from Imo state, raised a motion at plenary on Tuesday.
Anyanwu drew the attention of his colleagues to the alleged withdrawal of the money.
He made reference to section 80 (2) and (3) of the 1999 constitution which prohibits such withdrawal without the consent of the lawmakers.
“I have it on good authority that in March 2018, a whopping sum of $462 million was withdrawn from the federation account and paid for helicopters to an American firm called Helicopter Tecno Fights Helicopters,” he said, adding: “And I know there was no such approval from the senate.”
He urged the lawmakers to invite the three governnment officials “to tell us how this money was withdrawn and paid to an American company without the approval of the senate.”
The upper legislative chamber adopted his prayers for the trio to be summoned by the committee on appropriation and asked it (the committee) to report back to them after one week.
-
Latest6 days agoIsrael marks 3 years since October 7 Hamas attack amid Gaza strikes, election debate
-
Energy6 days agoFuel Battle: Dangote, marketers and government clash over petrol imports
-
Energy1 week agoPetrol, diesel prices rise 86% in 2026 as costs hit fresh highs
-
Football7 days agoNigeria’s World Cup exit under spotlight as FIFA’s DR Congo files emerge
-
Energy1 week agoHas Iran lost control of the Strait of Hormuz? Oil flows rebound as war disruptions persist
-
Latest7 days agoUS Court set to rule on release of FBI, DEA records on Tinubu
-
Latest19 hours agoFull List: Meet the 2026 Nobel Prize winners across six categories
-
Business7 days agoNigerian investors at a crossroads as fixed-income yields slide


