AGF Dismisses Involvement in Alleged $2.4b Crude Oil Theft 

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The Attorney General of the Federation, Mr Abubakar Malami has dismissed his involvement in the alleged oil loss of over $2.4B dollars in oil revenue.

The Minister dismissed the allegation when he appeared before the house of Representatives adhoc committee investigating the alleged illegal sales of 48 million barrels of crude oil export in 2015 including crude oil exports from 2014 till date.

He said the hearing was not necessary because it has nothing to do with his office and personality.

Malami stated that the matter as raised by a whistleblower leading to his involvement was baseless and lacking in substance

The chairman of the committee, Mr Mark Gbillah, said the minister was invited in order for him to shed more light on topical issues concerning the alleged involvement of his office regarding receipt authorisation and general payment remitted over the subject matter.

Mr Gbilla also faulted the Asset Recovery Account, into which recovered funds are kept before it is evacuated into the Consolidated Revenue Fund.

According to the chairman, the Assets Recovery Account should be scraped as the constitution was explicit in directing that all revenue accruing to government must be paid directly into the Consolidated Revenue Fund CRF.

He added that the House would seek further legal interpretation on the matter.

 

Confidence Okwuchi

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