Financial Analyst Advocates The Need For NNPC To Defend Missing Funds

By IAfrica
In Nigeria News Feed
Feb 6th, 2014


The issue of unremitted funds still continues to send shock waves across the federation, there is need for more correspondence between the respected agencies involved in reconciliation of accounts.

Speaking on Channels Television Business Morning, the CEO of Financial Derivatives Company LTD, Bismark Rewane says it is not out of place for the CBN to raise an alarm that some funds are missing, but it is left for the NNPC to defend its position by giving proper account, backed with evidence, to Nigerians to indicate that all is well.

He suggested that the federal government should also seek clarity on this issue by inviting international agencies to either validate or nullify the claims.

Mr. Rewane said that if this issue is treated with levity, it could have serious implications on the nation’s economy, one of which might include a decline in foreign portfolio investments.

“if money is not missing, say how you applied the money, if money is missing, go get it from where it is,” he said.

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