May 27, 2018

EFCC probes another withdrawal of N10bn by Jonathan govt

EFCC probes another withdrawal of N10bn by Jonathan govt

The Economic and Financial Crimes Commission (EFCC) is looking into how another N10 billion was withdrawn from Signature Bonus Account (oil block account) barely seven weeks to the inauguration of President Muhammadu Buhari.

The cash was part of the N76 billion officially approved for withdrawal before the handover date to the new government.

As at March 31, 2015, there was about $726, 909, 118, 26 left in the account. But  a withdrawal mandate was issued on April 9, 2015 for either special services or use by the Petroleum Technology Development Fund(PTDF).

A memo by the Director of Funds (FD/LP2015/8/127/DF) said: “The AGF has directed that the following disbursements be effected from the balance of $726, 909, 118, 26 as at 31st March in the Signature Bonus Account: (i) ONSA (N10billion); (ii) DBN (N20billion) and (iii) PTDF ($150million).

“In view of the above, mandate for the  payment of N10 billion in favour of ONSA, based on the bank details, is enclosed abc for the AGF’s consideration and approval. Read more

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