 House a talk committee of the recovery of 1.2 trillion and claimed funds in Commercial banks the CBN as well as the MDAs has alarmed Nigerians over the discovery of over 300 billion naira since the start of its investigation so far Chairman of the committee Honourable Magyma Idem discussed this after a session with officials of the Nigeria Investment Promotion Council And Marlon Hage and it completes this report The outset of the other committee following a resolution taken by the House other committee on January 26 this year on the need to investigate and claim funds amounting to 1.2 trillion naira in commercial banks the CBN as well as the MDAs According to the chairman of the committee Honourable Uyime Idem Funds trapped are in dormant bank accounts in domestic and foreign currencies accounts without bvn Field contracts excess unremitted funds and many more He presented a list of accounts to the management team of Citibank holding 99 billion naira out of the 1.2 trillion naira under investigation You are indebted to the federal government of Nigeria in terms of Dollars So if you aggregate this amount Naira and dollars is amounted to about 99 billion naira Members of the committee asked the officials to explain the status of accounts belonging to ABS limited Global offshore limited and Titan energy limited which are holding funds in both Naira and dollars Can you identify? by your records and Account number is zero zero one one five Three hundred and fourteen domiciliary account U.S. Dollar ABS limited with two hundred and twelve million 369,000 and 26 naira and 26 dollars 49 In a submission the executive director operations and technology of the bank Ngozi Omoki He said seven accounts without bvn having submitted to the committee in compliance to what it requested from the bank And I saw that the schedule said corporate names individual Individual and mga and I just separated it into three. It's consistently seven The balances are the same. Nothing has changed. Please. I just want you to get that right. I'm not I'm not here to force any Fortify anything the commission however informed city bank that it observed the documents submitted had more than seven Accounts that needed to be scrutinized It directed the bank officials to reconcile their accounts and make further Clarifications are the next appearance the director of finance Nigeria investment promotion council James Aqua Pleaded for more time to reconcile its account when accused of allegedly owing the federal government to the tune of 5.2 billion naira in unremitted revenue operating surplus and other funds from 2015 to 2021 please do subscribe to our YouTube channel and don't forget to hit the Notification button so you get notified about fresh news updates