Senate Summons SGF over N596bn Ecological Fund Account

Tasks revenue agencies on optimal performance

Deji Elumoye in Abuja

The Senate yesterday summoned the Secretary to the Government of the Federation, Mr. Boss Mustapha, to explain how N596 billion that accrued to the Ecological Fund Account from 1999 to 2015 was expended.

The Chairman of Senate Committee on Public Accounts, Senator Matthew Urhoghide said the government scribe is being invited to appear before the committee to shed more light on the financial details of the Ecological Fund Account in 16 years.

The committee chairman, who spoke when the heads of government departments and agencies came to defend their 2015 audited accounts before the committee, emphasised that “the SGF is being invited to come and brief us on the statement of account of the Ecological Fund.”

Earlier, the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele and the Accountant General of the Federation (AGF), Mr. Ahmed Idris, failed to explain to the committee how the fund was expended.

The committee chairman had asked the representative of the CBN Governor and AGF of the Federation to explain the details of the Ecological Fund.

Responding, the AGF told the lawmakers that the fund, which is domiciled in the CBN account had been invested

The CBN, however, said it was not ready with the report pleading with the committee to choose another date for it to submit the report for consideration.

The Chairman of the committee thereafter directed, “the Central Bank to come and furnish us with statement of account of the Ecological Fund”.

Meanwhile, Senate President, Dr. Ahmad Lawan, has asked revenue generation agencies to set measurable targets for their performance.

Lawan, who stated this yesterday evening while declaring open the maiden meeting of the Senate committee on Finance with heads of revenue generation agencies of the government said Nigeria’s problem today is how to generate and remit revenue to the government’s treasury.