The Senate’ Committee on Public Accounts has insisted that the Petroleum Equalisation Fund, now Nigeria Midstream and Downstream Petroleum Regulatory Authority, must account for the bank interest on the N34bn placed in a fixed deposit account with one the nation’s commercial lenders.
The Fund had, however, claimed in a letter to the committee that it had remitted the interest to the federation account. He stated that whether the Fund changes name or not, it must appear before the committee to account for the interest.
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