![](\"http:\/\/arewa.ng\/wp-content\/uploads\/2018\/08\/NNPC-e1491333545387.jpg\")
<\/p>\nThe Permanent Secretary, Mr Mahmoud Isa-Dutse, gave the ministry\u2019s position when he appeared before the Senate ad hoc committee probing the allegation in Abuja on Thursday.<\/p>\n
Isa-Dutse\u2019s claim appeared to corroborate the Group Managing Director of the NNPC, Mr Maikanti Baru, who restated the agency\u2019s denial that it had no such fund in its custody.<\/p>\n
The allegation emanated from the Minority Leader of the Senate, Abiodun Olujimi, at plenary on Oct. 16.<\/p>\n
In a point of order, Olujimi had alleged there was a 3.5 billion dollar \u201cSubsidy Recovery Fund being managed only by the GMD and Executive Director, Finance, of the NNPC\u201d.<\/p>\n
It was on the basis of that allegation that the Senate set up the committee, chaired by the Majority Leader, Sen. Ahmed Lawan.<\/p>\n
Isa-Dutse said the ministry was only aware of the outstanding payments under the old subsidy regime, being handled by the Debt Management Office (DMO).<\/p>\n
\u201cAs far as the current fuel importation regime is concerned, the Ministry of Finance does not have any account it is operating.<\/p>\n
\u201cWe are not aware of the alleged 3.5 billion dollar fund, and we do not maintain any subsidy fund account,\u201d he said.<\/p>\n
The NNPC had earlier denied the 3.5 billion dollar subsidy fund claim in a statement on Oct. 17.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
The Federal Ministry of Finance has denied knowledge of a 3.5 billion-dollar fund allegedly kept and utilised by the Nigeria National Petroleum Corporation (NNPC) for fuel subsidy. The Permanent Secretary, Mr Mahmoud Isa-Dutse, gave the ministry\u2019s position when he appeared before the Senate ad hoc committee probing the allegation in Abuja on Thursday. Isa-Dutse\u2019s claim […]<\/p>\n","protected":false},"author":1,"featured_media":12733,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[7165,5092,2701],"class_list":["post-57712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-finance-minister","tag-nnpc","tag-zainab-ahmed"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/57712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57712"}],"version-history":[{"count":0,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/57712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/media\/12733"}],"wp:attachment":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}