Nigerian Senate talks tough over N30trillion probe | Nigeria Newspaper- Nigeria News| Naija News

9.8.17

Nigerian Senate talks tough over N30trillion probe

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Nigerian Senate talks tough over N30trillion probe
The Senate on Wednesday said the alleged N30 trillion revenue leakage in the country’s import and export value chain will be thoroughly probed.
The probe covers activities in the value chain between 2006 and 2017.
Senator Hope Uzodinma, Chairman, Senate Joint Committee on Customs, Excise and Tariff and Marine Transport, told newsmen in Abuja that some firms allegedly involved in the process had begun “confessions’’.
“If there is anybody who is still in doubt whether there are recoverable revenues of government in the hands of these companies, by the admission of some of them, it means that the person should better wake up.
“We call on all Nigerians to support the Senate. We are all very serious men and women.
“We are professionals in different fields of endeavour and when we have decided to come here to serve the country, we mean every word of it.
“What we are doing and showing by this investigation is that the country can be better. We are not shrouding anything in secrecy.

“The public is interested in this investigation and you know the Stock Exchange is an important platform for trade in Nigeria.
“We don’t want to create unnecessary panic in the market as some of the companies are public-quoted.
“There is a signal we will let to the market that will destroy the image and integrity of these companies.
“We have not arrived at any conclusion because the investigation is still on. On the final day, we will do a full blown news briefing so that Nigeria will know the outcome of our exercise,’’ he said.
Uzodinma disclosed that of the over 60 companies being investigated, the committee had met with 11.
“Some of the companies approached the committee and expressed their willingness to support our investigation because the process of the investigation may require them revealing some of their trade secrets”, he added.
The lawmaker listed companies that met with the committee on Wednesday as Dana Group, China Export, Emel Group, Halliburton, Bhojson Plc, Bharat Ventures Ltd, Bua International Ltd, Friesland Campina, Boulos Group, CFAO Group and British American.

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