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Monday 27th September 2004 HOME | back to previous page Heads may roll in CBN over excess oil fund By Sanya Adejokun Senior Correspondent Abuja   There has been a flurry of activity at the Central Bank of Nigeria (CBN) since the disclosure three weeks ago that the government could be secretly spending the excess crude oil money, as security men and senior bank officials try to unravel how the document revealing the deal was leaked to the press. President Olusegun Obasanjo was said to be very crossed over it and sent a memo to both CBN Governor Charles Soludo and Finance Minster Ngozi Okonjo-Iweala with a thinking that they deliberately leaked the story. According to sources, detectives were brought into the bank to trace the visitors� book and determine which offices journalists visited in the weeks preceding the publication. However, �they discovered that all the reporters booked in to see the Corporate Affairs people�, a source said, and this led to a situation where �They concluded that you guys stole the document from Tony Ede�s office�. But another senior CBN official reportedly said the leak was done by members of the National Assembly who are privileged to see every document that emanates from the bank. Soludo told members of the House of Representatives Communities probing the allegation that investigation is on to determine how the document got to the press and that serious sanctions would be imposed on those responsible. A CBN document to be discussed by the Monetary Policy Committee was leaked to newsmen in Abuja which shows that the government incurred about N101 billion deficit in the first seven months of the year and that it was financed partly through �ways and means� and partly through excess crude oil money. Regardless, both Okonjo-Iweala and Soludo insisted that the excess crude money referred to in the document was from the 2003 excess and not from this year�s.     Copyright� 2004. All Rights Reserved. Independent Newspapers Limited Block5, Plot 7D, Wempco Road, Ogba, P.M.B. 21777, Ikeja, Lagos State, Nigeria. www.independentng.com e-mail: [email protected] Designed By Powered By DNet.

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