$49 Billion Oil Proceeds Missing in Nigeria

The Central Bank Governor of Nigeria reported to President Goodluck Jonathan this week about a missing $49 Billion which was the total amount of money realised from sales of crude but was not remitted to the government by the Nigerian National Petroleum Corporation. $49 Billion, is this a joke? The Nigerian National Corporation however refutes that claim and blamed the CBN Governor for his lack of understanding of how oil proceeds are remitted. Watch this clip.