By HENRY UMORU & INALEGWU SHAIBU
ABUJA— Senate Committee on Petroleum (Upstream) has summoned the Minister of Finance, Dr. Ngozi Okonjo Iweala, and Central Bank of Nigeria, CBN, governor, Mallam Sanusi Lamido Sanusi, to appear before it to explain the reason why funds have not been released to the Petroleum Technology Development Fund, PTDF.

The committee also summoned the Accountant General of the Federation, AGF, Mr. Jonah Otunla to appear before it and explain why the agency has been starved of funds in the last three years.

Chairman of the committee, Senator Emmanuel Paulker who issued the summon yesterday during the budget performance interface with PTDF was surprised that the agency has been operating without funds since 2010.

He said: “The fund for PTDF is statutory. Nobody has the right to withhold this money. We are going to invite CBN governor, Minister of Finance and accountant general, to explain to us why the funds have been withheld. We will help you locate where your money is”.

The Executive Secretary of PTDF, Engr. Muttaka Rabe Darma, in his briefing to the committee, however, informed the Senators that the agency has been operating on a grant of $100million since 2010, adding that they have written to the Ministry of Finance asking for money without success.

According to him, “we have written to the Ministry of Finance for cash backing since 2010 but no response. If monies are not released all contracts including ongoing ones will be stopped.”