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Official document from Office of the Auditor General of the Federation has revealed how a total sum of $759,387,755.10 was withdrawn from the Department of Petroleum Resources (DPR’s) Signature Bonus Account domiciled with JP Morgan Chase Bank.
Signature bonus is a single, non-recoverable lump sum payment by the Licensee to Government upon the granting of a Petroleum Exploration Licence or Petroleum Production Licence.
The latest OAuGF 2018 annual report indicated that the sum, withdrawn in bits, was paid into different accounts in tranches between July 2014 and May 2015.
Checks by Nigerian Tribune showed that an initial sum of $469,387,755.10 was withdrawn from the said account between April 10th and April 30th 2015 and paid to an account called, “CBN autonomous FEM account Garki, Abuja Nigeria,” rather than being paid into the Federation Account.
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Chief executives of government agencies and other public officials, on several occasions, shun the invitations extended to them by the National Assembly to respond to allegations levelled against them or their agencies, especially regarding their financial records.
Federal lawmakers described the disregard to their invitations by some public officials as an affront on the legislature, alleging that some heads of agencies were not ready to be accountable for their spending of public funds.
In most cases, the federal lawmakers invoke the necessary provisions of the law, including arrest warrant, to compel heads of agencies to appear before them.
Sections 88 of the 1999 Constitution as amended empowers the National Assembly to invite any person holding a public office to give account of any expenditure, or where it suspects that there is any infraction or corruption.
How DPR withdrew $759 4m from signature bonus account tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.