Senator Matthew Urhoghide, Peoples Democratic Party, PDP, Edo South led Senate Committee on Public Accounts, which raised the alarm and exposed the mismanagement of public funds in the Escrow Account, has also discovered that the renegotiation was carried out after two years from 0.02 to 2 percent per annum.
By Henry Umoru
ABUJA- THE Senate has uncovered how the Nigeria Bulk Electricity Trading Plc (NBET) mismanaged N50 billion in the Escrow Account.
According to the Senate, the N50 billion in the Escrow account is from sales of Egbin , Omotosho, and Olorunsogo Power plants.
Senator Matthew Urhoghide, Peoples Democratic Party, PDP, Edo South led Senate Committee on Public Accounts which raised the alarm and exposed the mismanagement of public funds in the Escrow Account, has also discovered that the renegotiation was carried out after two years from 0.02 to 2 percent per annum.
The Senator Urhoghide led Committee is relying on the query raised by the Office of the Auditor General of the Federation in the 2015 report and brought before it for probe and subsequent presentation to the Senate at Plenary.