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Reps probe $1.2bn oil bloc fund – The Nation

July 3, 2009 by Bunmi Awolusi 

The House of Represetatives yesterday began investigation into the whereabout of about $1.2 billion oil bloc bid round funds realised in 2005.

The Hon Usman Adamu led House Committee on Public Account spearheading the probe, is seeking details of the oil bloc transactions and where the accrued $1.2 billion is kept.

The fund, said to have accrued from signature bonuses of oil bloc bid rounds in 2005, was supposed to have been paid into a Petroleum Technology Development Fund (PTDF) Reserve Account, but that was not the case.

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Source website: The Nation


  • Vivian Newman
    All bul.... A good West African leader is no west African leader... South East Asians have crawled out if jungles and built their countries in less than 60 years.. Africans have been at it for over 300 years... African leaders are the number one killer of their own peoples........They are totally responsible for the deaths of most African Children.. Through stealing, enabling and neglect of basic infrastructure building.. They have sold there country and people out for a couple of pieces of silver and when some takes a gun and blow their head off they label you a terrorist.. not that i subscribe to violence but how do you stop these hateful abomination to human kind....
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