$20b ‘missing’ oil cash uncovered

The EFCC has traced the $20b missing oil cash to the 2015 electioneering campaign of the PDP.

According to The Nation, The Economic and Financial Crimes Commission (EFCC) traced a substantial part of the missing $20billion oil cash.

The anti-graft agency discovered how the cash was transferred and wired into secret accounts for political purposes.

Former Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi (now Emir of Kano Muhammadu Sanusi II) raised the alarm that there was an estimated $20bn shortfall in oil revenues due to the treasury from the state oil company which might have been spent illegally.

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A source close to the investigator, said: “We have tracked a substantial part of the missing $20billion about which the former CBN Governor raised the alarm.


“From our findings, the oil money was diverted. We will soon make the details available.

“As for those being invited for interrogation on campaign funds, we have been able to establish that the amounts in question were strictly government funds.

According to the Wall Street Journal, last year, there were 800,000 barrels of oil a day unaccounted for by the International Energy Agency, the energy monitor that puts together data on crude supply and demand.