The Senate on Tuesday resolved to probe the alleged mismanagement of $3.8 billion Subsidy Recovery Fund, SRF, by the Nigeria National Petroleum Corporation, NNPC. This is sequel ta o a motion moved at plenary by the Minority Leader, Senator Biodun Olujinmi, who came under Orders 42 and 52 to draw the attention of the Senate to the alleged mishandling of $3.8 billion Subsidy Recovery Fund,SRF, in the custody of the NNPC. The Senator while speaking on the matter of urgent national importance accused both the Managing Director and an Executive Director of the NNPC as sole signatories to the Fund “without recourse to the National Assembly Joint Committee on Appropriation”. The Account, she said, has become a slush fund and therefore urged the Senate to compel its Committee on Petroleum(Downstream) to ask the NNPC on why the Fund was being managed by the Executive without the knowledge of […]