By Olusegun Lawrence The Senate Committee on Finance has recommended the discontinuation of the subsidy regime; even as it submitted that the sum of $48.9 billion said to be missing from the Federation Account is not missing after all.
Presenting its report at the plenary on Wednesday, the Committee headed by a former Governor of Kaduna State, Ahmed Makarfi, said the suspended Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, only cried wolf where there was none.
He stated that the committee during the course of investigating the alleged missing money could not establish the veracity of the claim.
Prompt News recalls that Mr. Sanusi had raised the alarm that huge sum of money was missing from the Federation Account, changing the figures at different times- $12 billion, $20 billion and $24 billion.
According to Markarfi, “the Committee could not discover how US$48 billion dollars is arrived at by Sanusi.
“That the CBN governor at the first hearing had put forward the figure of 12 billion dollars as monies to be reconciled changed his position to 20 billion dollars at subsequent hearing.
“There is need for the subsidy regime to be totally discontinued with. All stakeholders should be consulted and carried along as much as possible before abolishing subsidy”.
