Nigeria: Representatives Panel Queries PTDF Over Diversion of N2.5 Billion

The House of Representatives committee on public accounts yesterday raised questions over diversion of N2.5 billion which accrued to the Petroleum Development Trust Fund (PTDF) from the signature bonuses.

Committee Chairman, Rep. Solomon Adeola (ACN, Lagos), who issued the query during a meeting with officials from office of the Accountant General of the Federation and the PTDF in Abuja, said the audit examination of the statement of consolidated revenue fund for 2006 revealed a further shortfall in revenue collection worth N82 million on eight heads of recurrent revenue.

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