Makarfi, who stated this at an investigative hearing into allegations of missing $49.8 billion missing oil money, said that the committee was out to get to the roots of the allegation.
Suspended Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, had raised the alarm late last year of alleged missing $49.8 billion from the coffers of the NNPC.
Senator Makarfi further stated that the committee was investigating the issue of oil swap as well as the allegation of missing money.
He said: “The other report we are expecting is that the committee appointed independent consultants to do forensic examination and audit on the volume of expenses you incurred. We expect their report by the end of next week.
And their independent report is what will make us form an opinion on the expenses and losses totaling about 2.1 billion Dollars based on your submission accounting for that money.”
The Group Managing Director of the NNPC, Mr Andrew, also told the Committee that the corporation had given a detailed breakdown of the expenses.
He stated that the allegation was borne out of a misreading of the revenue accrual system of the oil industry, adding that every stakeholder in the system takes its share of the revenue in accordance with the law.
He said: “We have also made our submission and we gave a detailed breakdown, like I said last week, for us, this is a wonderful opportunity to give detailed account of what we do, really like we have always said, the misunderstanding about the industry is so wide and we have this duty and we are happy we have this opportunity.
“Today we gave a clear detailed breakdown of what we remitted to the Federation Account, that was confirmed and the IOC took their own share because they are partners in the business so for us, it is an opportunity to explain in details our activities, our remittances and what is due to other parties.”
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