The Nigeria Sovereign Investment Authority has denied claims about withdrawal of seven hundred million dollars from its account to fund the construction of the Second Niger Bridge.

The Nigeria Sovereign Investment Authority has denied claims about withdrawal of seven hundred million dollars from its account to fund the construction of the Second Niger Bridge. The NSIA maintained that all funds managed by it are intact and fully accounted for as detailed in the Audited Financial Statement for the year ended 2014. The NSIA said only two point two million dollars ($2.2 Million) has been disbursed for the Second Niger Bridge project to cover consultancy-related costs. The clarification was made by the NSIA against the backdrop of a purported allegation by Edo State Governor, ADAMS OSHIOMHOLE, against former minister of works, MIKE ONOLEMEMEN. Governor OSHIOMHOLE reportedly alleged that ONOLEMEMEN had withdrawn seven hundred million dollars for the second Niger bridge project. But an Annual Report issued by the NSIA earlier this month indicates that funds have been invested profitably, realizing a net comprehensive income of fifteen point eight billion naira as at year ended 31st December, 2014.
The NSIA maintained that it had not at any time been invited by the National Economic Council to defend its operations. The authority also said it has never been invited by the ad-hoc committee on the management of Excess Crude Account proceeds and accruals of the National Economic Council to make a submission on its operations.