Nigerian Senate recovers N120 billion scam money
President of Nigerian Senate Dr Bukola Saraki and his Deputy
London, Oct. 5, 2017 (AltAfrika)-A special committee of the Nigerian Senate looking into allegation of about N30 trillion revenue scam in the import and export value chain says its fact finding activities has led to the recovery of about N120 billion from companies involved in the revenue scam
The Chairman of the Committee Sen. Hope Uzodinma who revealed this while speaking with journalists in Abuja, Nigeria’s seat of power also disclosed the resolve of the legislators to hand over companies found culpable in the scam to Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission(EFCC) for prosecution
He said: “We have also established another department of the investigation, which is abuse of fiscal policies from Federal Ministry of Finance . “Most of these companies that have applied and gotten approval as manufacturers of different products, assemblers of various products but import finished goods in the name of CKD (Complete Knock-Down) will be charged for economic crime.
“We are going to follow up the prosecution with all evidences available to us. “As we are about concluding our investigation on the 60 selected companies being currently investigated, it is very clear that so much collectable revenues are still hanging.
“These are monies that government would have used to ease governance and provide necessary infrastructure and amenities to the citizenry. “So, this committee will not sit back and allow the economy to crumble. This is just 60 selected companies. We are visiting over 1000 companies”.
According to him, 10 of the 60 companies were still at large as it’s committee at first phase of the investigation were able to interact with 50. He however, vowed that the committee would ensure that those companies at large were fished out by the relevant security agencies.