Alleged US$13.9bn capital flight: Senate Summons trade minister, CBN gov, others

The Senate has invited the Minister of Trade and Investment, Dr. Okechukwu Enelamah; the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele and 12 others over the controversial $13.92b capital flight allegedly perpetrated by some foreign companies operating in the country.
The affected minister, the CBN governor and 12 others are expected to appear before the Senate Committee on Banking, Insurance and Other Financial Institutions next week.
Chairman of the Committee, Senator Rafiu Ibrahim, (APC Kwara South), in a statement, listed the other affected persons to include Dr. Pascal Dozie, Ahmed Dasuki, Gbenga Oyebode, Babatunde Folawiyo, Colonel Sani Bello and Victor Odili.
Organizations summoned by the committee to the meeting are the Mobile Telecommunication Network (MTN), Financial Reporting Council of Nigeria (FRCN), Standard Chartered Bank, Citibank and Diamond Bank.
According to Ibrahim, summoning the affected persons was in line with the Senate resolution on September, 27, 2016, entitled, “Unscruplous Violation of the Foreign Exchange (Monitoring and Miscellaneous) Act.”
Senator Dino Melaye (APC,Kogi West), had while presenting the motion some weeks ago, said, ” Since inception, MTN had sought the collaboration of influential and unpatriotic Nigerians to assist them in looting our external reserves.
“These Nigerians, including Enelamah, who MTN used in moving $13.92 billion out of Nigeria, which is over 50 percent of our External Reserves floated and incorporated offshore SPVs in Cayman Island, Mauritius and British Virgin Island, “he had alleged.