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The petroleum special Trust Fund was set up by the late Head of state,General Sani Abacha who died on 18th June,1998, to manage the excess revenue accruing from the sale of petroleum and its allied products as a result of a domestic increase in the prices of petroleum products.
I am the Chairman of the Contract Award Committee and my committee is solely responsible for awarding and payment of contracts on behalf of federal Government of Nigeria.
My Committee awarded contracts to foreign contractors for the supply of Agricultural Machines Spare parts to the Ministry of Agriculture and Natural Resources. We overshot the contract sum by USD35 Million. We have paid the contractors and withholding the balance of USD35 Million.
Because of existing domestic laws forbiding civil servants from opening, operating, and maintaining foreign accounts,
we do not have the expertise to transfer this balance of funds to a foreign account.
We have also arrived at a conclusion that you will be compensated to the tune of 25% of the total sum transfer while 5% will be reserved for incidental expenses that both parties will incur in the course of actualizing this transaction and the balance of 70% will be kept for the Committee members.
The required details include your personal Telephone/Fax numbers,beneficiary’s name, Name of Bank,Routing number,Account number,Telephone/Fax numbers of same Bank.