Senate Probes Abuse of N873bn Natural Resources Fund

The Senate Committee on Public Accounts on Thursday received testimonies on how the Presidency approved over N700bn from the Natural Resources Fund account to finance budget deficits and other activities of its ministries, departments and agencies outside the mandate of the account.

The fund was established in 2002 to receive three per cent of accruals to the federation to help in the development of natural resources other than oil and gas. View full text

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