NNPC

The federal government will soon restart the search for crude oil in areas around the Lake Chad Basin that have been liberated from the Boko Haram terrorist group.

An ex parte application was filed by Ubah’s lawyer, Ifeoma Esom at the Federal High Court, Lagos on Tuesday.

The funds were approved for NIA’s ‘covert operations’ by President Goodluck Jonathan and subsequently withdrawn in cash from NAPIMS account with the Central Bank of Nigeria, CBN.

“By this Press Release, we inform the public (especially the News Media)that the said sums of money and/or the apartment where the sums of money were found do not belong to Our Client,” read the statement by Nnamdi-Ogbue’s lawyers.

The PIB has been an ongoing project for years now and had many times been reconstructed and redrafted but has never been passed into law.

NEITI said the NNPC and the NPDC, have failed to remit $21.778 billion and N316.074 billion respectively to the Federation Account.