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Nigeria

Why Senate Summons CBN, SGF Over N596 Billion Ecological Fund

The Senate Committee on Public Accounts on Thursday summoned the Central Bank of Nigeria and Secretary to the Federal Government (SGF), Boss Mustapha over N596 billion Ecological Fund .

It was gathered that the amount was deducted from the Federation Account between 1999 and 2015.

Senate decision to summon CBN and office of the Secretary to the Government of Federation was sequel to the statement issued raised by the Auditor General of the Federation, Anthony Ayine in his 2015 audited report.

Ayine told the Lawmakers that the money (N596 b) was deducted from Federation Account from 1999 till 2015.

But, the Accountant General of the Federation, Ahmed Idris told the Lawmakers that the fund is domiciled in CBN and, the Apex bank is position to give update on the fund .

Officials of CBN however told the Lawmakers that they were not ready with the report pleading for more time to submit the report for the Committee.

The Committee however resolved to summon Secretary to the Government of Federation,
to give clarification on the issue raised against him in the audited report.

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