The Senate President, Bukola Saraki-led Senate, has said that it has set up an Ad hoc Committee, to investigate the use to which the sum of $3.5 billion alleged subsidy, was put.

This was contained in a tweet on the verified Twitter handle of The Nigerian Senate, @NGRSenate.

“Senator Bassey Akpan cited Orders 43 and 95, and drew the attention of the Senate to the various emails and complaints from the general public, on the unauthorised withdrawal of $3.5 billion by the Nigeria National Petroleum Corporation, NNPC, from the Nigeria and Liquefied Natural Gas, NLNG, account”, the Senate added

“I ask that the Senate Committee on Gas, immediately investigates this matter”, Senator Bassey Akpan said: while Senator Emmanuel Paulker, urged that: “The Ad hoc Committee that was set up, should carry on with their work, while the Committee on Gas, should also investigate the matter.”

Meanwhile, the Senate has begun an investigation into the diversion of funds from the ‎NLNG dividend, to augment the shortfalls between the landing cost and pump price of Premium Motor Spirit, PMS, (petrol).

The Chairman of the Senate Committee on Petroleum (Gas), Senator Bassey Akpan, raised a point of order at the plenary, on Tuesday, to urge the Lawmakers to probe the ‎withdrawal and payments.

‎President of the Senate, Bukola Saraki, ruled that the Committee should go ahead with the probe.

Saraki had on Monday‎, said that the Upper Chamber of the National Assembly, would further probe the claims by the Group Managing Director, GMD, of the NNPC, Maikanti Baru, on how and why the Corporation was diverting the dividends from the NLNG.

The Senate had set up an Ad hoc Committee, chaired by the Majority Leader, Senator Ahmad Lawan, to investigate an alleged $3.5 billion account kept by the NNPC, for petrol subsidy payment.

Baru had while appearing before the Committee, last week, revealed that the NNPC had only spent $1.05 billion, from the NLNG dividend account, to defray the cost of “under-recovery” in the importation of fuel.

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