The Nigerian Senate has instructed the Nigerian National Petroleum Cooperation to refund two hundred and sixteen billion Naira, illegally used for fuel subsidy payments without appropriation, into the Consolidated Revenue Fund.
The Senate also ordered the NNPC to stop further payment of fuel subsidies. It also mandated the federal government to quickly send in its requirements for fuel subsidy payments for inclusion in the 2018 budget.
According to TVC, the Senate also mandated a five years special audit of the NNPC by the Auditor General of the Federation and that it should be submitted to Senate within two months.
Naija News gathered that the decision of the senate was motivated by the consideration of the findings of the public accounts committee after the investigation of all subsidy payments by the NNPC without recourse to the National Assembly.
Senator Matthew Urhoghide, the Chairman of the Committee, disclosed that the committee also recommended that the federal government should pay all oil marketers the outstanding arrears of subsidies owed them prior to 2017. The resolution was accepted.