The Senate, on Thursday, following an audit query from the office of the Auditor General of the Federation, summoned the Secretary to the Government of the Federation, Mr Boss Mustapha, to explain det
ails of an ecological fund totalling N596bn.
The Chairman, Senate Public Accounts Committee, Senator Mathew Urhoghide, said the AGF and the heads of the two agencies were expected to explain how N596bn in the Ecological Fund Account since 1999 till 2015 was managed. The AGF also added that contrary to the provision of Section 5 of the Revenue Allocation Act which requires that an agency be established to manage the fund, no agency had been established for that purpose.
The Accountant General in his response told the lawmakers that the fund was domiciled in the Central Bank Account and that the money had been invested.However, the CBN officials said that they did not come with relevant documents.
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