SENATE President, Bukola Saraki has stated that the $13.9 billion allegedly repatriated by telecommunications provider, MTN Nigeria was enough to pull the nation out of recession. Saraki disclosed this yesterday while declaring open an investigative hearing on the alleged repatriation of funds by MTN Nigeria in connivance with some Nigerian banks and individuals. The investigative hearing is being conducted by the Senate Committee on Banking, Insurance and Other Financial Institutions. Saraki, who was represented by the Senate Majority Whip, Olusola Adeyeye said that the amount involved were mind boggling. He said: “The amount of money involved in the alleged repatriation by MTN Nigeria will pull Nigeria out of recession. “We are duty bound to make sure that such breach of constitutional processes are investigated and be assured that this is not a witch-hunt but a fact finding exercise. “This 8th Senate has devoted a lot of attention on legislations that will improve the business environment. This hearing goes to show this commitment and so we expect maximum cooperation from the regulatory authorities and failure to do so will mean culpability. “We intend to get to the bottom of this and get the facts and nothing but the fact. At the end of this, based on the calibre of people that are here, Nigerian will get to know the truth about what transpired.” Saraki, however urged the committee to be thorough in their investigation. In his opening remark, the Chairman of the Committee, Senator Rafui Ibrahim said that the investigation was not a witch-hunt but an avenue to block loopholes and revenue leakages. He frowned at individuals who did not honour the invitation of the senate, stressing that they would be handled appropriately. Meanwhile, Senator Dino Melaye while also speaking, alleged that the crime of repatriating funds was not done by only MTN Nigeria, noting that a lot of multinational companies were also engaging in repatriation of funds. He expressed hope that those companies who had been engaging in the repatriation would also be uncovered by the investigation.