Nigerian senate panel is investigating Dangote refinery, Delta govt, and 13 oil firms over alleged misappropriation of N135bn CBN loan.
The senate panel has warned of reporting the oil and gas companies to the Economic and Financial Crimes Commission (EFCC) if found guilty of misappropriating the intervention loan.
The Chairman of the Senate Committee on Gas Resources, Agom Jarigbe, issued the threat when the beneficiary companies appeared before the committee to explain how they utilized the loan.
Jarigbe, representing Cross River North, noted that his committee observed some companies did not use the funds for their intended purpose.
According to a report by Premium Times, the N135 billion loan was disbursed to 15 oil and gas companies under the Nigeria Gas Expansion Programme intervention fund of the CBN.
Source: Business Insider
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