Connect with us

Legislature

Senate wants AGF to sanction officials linked to mismanagement of $274.2m 

Published

on

Spread the love

Senate has unravelled how some officials of the Office of Accountant General of the Federation mismanaged  $274.2 million (N54.1bn) on external loan.
The revealation was contained in the report of the Senate Committee on Public Accounts chaired by Senator Matthew Urhoghide which was approved by the Red Chamber before proceeding on annual recess.

The Senate in its resolution asked the Accountant General of the Federation, Ahmed Idris to identify the officers responsible and sanctioned them for mismanagement of public fund in accordance with Rule 3115 of the Financial Regulations and for gross misconduct .
The Rule 3115 of the Financial Regulations reads, “An accounting officer who is queried for his failure to manage or spend public funds, effectively or who  spends public money without due regard to economy contrary to FR 415 and fails to reply to the query , shall  be removed from the schedule and be disciplined in accordance with the Public Service Rules.
The query to Accountant General of Federation from Auditor General of Federation titled ;” Inconsistent Exchange Loss Difference on External Loans”.

It reads, “During the examination of Note 51 and Appendix to Note 52, it was observed that there was a total exchange loss difference of $278.2 million (N54.1bn) reported by the Office of the Accountant- General of the Federation in the document provided but this could not be found in the DMO document.
” Also, the criteria for arriving at the exchange loss difference of $274.2 million ( N54.1bn) was not disclosed.
“The Accountant General of the Federation in his response maintained that the closing balance is as provided by DMO while the exchange difference of $274.2 million (N54.1bn) was as a result of multiple currencies that were involved and single exchange rate.

“The Account-General of the Federation is required to provide the source (s) of the exchange loss difference of $274.2 million (N54.1 billion ) with documentary evidence.
“Provide the calculations showing  how these figures were arrived at and the reasons for the exchange loss for each of the figures should be explained .
“Disclose the source of Exchange difference in a note.”

The Senate therefore in its resolution after the presentation by Senator Urhoghide upheld the recommendation of the Committee for officials involved to be sanctioned.
The report is that of 2015 Auditor General of the Federation’s on Financial statement of the Federal Government of Nigeria and the Federation Account.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Legislature

Dozy Kogi Assembly slips further into slumber as only 10 out of 25 sit

Published

on

By

Spread the love

***Speaker reads riot act

The already dozing Kogi House of Assembly has slipped further in to slumber as some members are no longer showing up for plenary on account of low moral poor morale of members occasioned by an alleged lack of proper welfare in the State legislature.

For instance Tuesday plenary witnessed one of the poorest attendance as 10 members out of 25 were present for legislative debate.
The trend it was gathered has been a reoccuring decimal where the Chamber can not gather the required quorum for the legislative activities to proceed.
Many had overlooked the situation earlier
due to the 2023 Presidential campaign of the State governor, which the Speaker of the State House of Assembly, Rt. Hon. Mathew Kolawole has been the arrow head, visiting States with some members trying to sell the idea of Yahaya Bello presidency to his counterparts.

The Kogi Assembly based on the forgoing had been described by many commentators as a sleeping slumber chamber as virtually nothing was happening in terms of legislative duties.
This was going on to the level that an administrative staff of the House of Assembly who will not want his name in print indicated that the legislature in Kogi State has gone asleep for the meantime.

The staff lamented that members have nothing to boast of in terms of welfare packages, saying that for the first time in the history of Kogi Assembly, the cost of official vehicles they are using are being deducted from their salaries and their allowances are not paid.

According to the source, the members have deserted because of pressure from their constituents, revealing that some of them are ‘cooling off’ in Abuja.

Continuing the staff said some of them who are aggrieved may boycott plenaries in protest and give untenable execuses since they can’t risk speaking out on their plight.

The Speaker, Prince Mathew Kolawole however, could not hold back as he decried the attitude of some lawmakers who attend executive sessions without attending plenary sittings.

The Speaker made the observation at Tuesday plenary sitting saying any lawmaker who is fond of doing so would be termed to be absent.

He however, moved a motion to to put to effect some sections of the House rule dealing withabsenteeism m and it was seconded by the majority leader representing Ajaokuta State Constituency, Bello Hassan Balogun.

Citing relevant sections of the house rules, the speaker noted that the motion so moved was to put to effect relevant sections of the house rules.

Before Tuesday’s sitting, some members participated in an executive meeting which held in the Speaker’s office, but were absent from the plenary out of anger.
In the midst of the lack of quorum the lack of quorum a bill for a law to repeal and re-enact the Kogi State Hotel and Edict, 1995, establishing the Kogi State Hotels and Tourism Board and a bill for a law to establish Kogi State Erosion and Watershed Management agency passed second reading in the house

The Assembly members have spent two years and two months out of a four year mandate, having been sworn into office on May 29th 2019.

Continue Reading

Legislature

Reps condemns delay in rendition of annual financial reports by DBN, NHIS, NITDA, PEF

Published

on

By

Spread the love

^^^Committee recommends prosecution of all DGs, DFAs of NSITF

The House of Representatives’ Committee on Public Accounts in its two-year report has frowned at the failure of Development Bank of Nigeria (DBN) to render its annual financial reports to the office of the Auditor General of the Federation (oAuGF) in line with extant provisions of the 1999 Constitution and relevant financial regulations.

According to the report laid before the House prior to the end of the Second Legislative year of the 9th Assembly, the bank came into operations in 2017 after the collaboration between the Federal Government and following Development Partners – African Development Bank, the World Bank, German Development Bank, France Development Bank and the CBN with 75% shares equity.

According to the information obtained by the Committee on Public Accounts, Federal Government owns 75% equity in DBN which makes funding available to 21 Microfinance and Commercial banks in the country and has provided about N130 billion to funding SMEs across the six geopolitical zones of Nigeria.

However, the “bank rendered its audited accounts for 2017 and 2018 in 2020 after CBN approval before rendering them to the Auditor General.

“The Bank tendered letters of evidence of remittance of its audited accounts for sighting by both the Committee and the Auditor General Desk during the hearing. The Bank is said to provide 52% of its loan to women for trading,” the report stated.

In its recommendation, the House Committee on Public Accounts chaired by Hon. Woke Oke cautioned the Bank against delayed rendition of its financial reports.

In its assessment of the audit queries against National Health Insurance Scheme (NHIS), the Committee disclosed that “NHIS has not rendered its audited accounts for past 13 years.

“The Executive Secretary of the Scheme lamented that this was due to frequent turnover of chief executive officers of the Scheme which become so difficult to keep financial records of the Scheme and dissolution of its governing councils by succeeding governments over the years. He (Executive Secretary) said the audited accounts for 2014 and 2015 had been signed and given to the External Auditors for onward transmission to the office of the auditor general while 2016 to 2018 are at final stage of completion.”

However in its recommendation, the Committee which frowned at the Management of the Scheme for the non- rendition of their audited accounts over the past 13 years which is a total violation of the financial regulations and the Constitution, directed NHIS to furnish its procurement process and give written reasons for the delay which is still being awaited.

In the same vein, the Committee during its investigation into the audit queries against National Information Technology Development Agency (NITDA), observed that the Agency submitted its 2014 audited accounts in October 2015; 2015 in November, 2016; 2016 on 7th February, 2018, and 2018 in November 2019.

Pleased by the timely rendition of its financial reports, the Committee commended the effort by the Agency for rendition, though delayed with few months.

In the report on Petroleum Equalization Fund (Management Board), the Committee observed that the Board submitted its 2014 and 2015 audited accounts duly but rendered that of 2016 in 2020 and is yet to remit those for 2017 and 2018.

To this end, the Committee condemned the delay and refusal by the Board to prepare and remit 2017 and 2018 audited accounts to the Auditor General which infringed on Section 85(3B) of the Constitution. Hence, recommended that: “All officers involved should be sanctioned in line with Financial Regulations No. 3112 (ii).”

In its report on the Nigeria Social Insurance Trust Fund (NSITF), the Auditor General Desk confirmed the Fund last rendered its audited account in 2005, leaving 2006 to 2018 still outstanding.

“On Thursday 20th February 2020 the Minister of Labour and Employment was invited to appear at the hearing on the issue but was represented by the Permanent Secretary, Mr William Aloh as the Minister was away to attend the burial of the late Chairman of Senate Committee on Labour and Employment, Imo State.”

However in its recommendation, the Committee while at this worrisome attitude of the Fund for refusing to render its audited accounts for last 13 years yet benefited from the Federal Treasury, recommended that: “All Director Generals of the Fund and their DFAs as well as various External Auditors from 2006 till now should be handed over to the EFCC in line with FR No. 3129 for further prosecution to compel them to refund all money received and misused by the officers.”

END

Continue Reading

Legislature

Senate uncovers illegal collection of N76bn by INEC, Nigerian Army, National Security Adviser

Published

on

By

Spread the love

***Orders refund

Senate has uncovered illegal collection of N76b from office of thr accountant general of the Federatio by the Independent National Electoral Commission (INEC), Nigerian Army, Office of National Security Adviser and others 

The funds were drawn from 25 percent Husked Rice Levy, 1 Percent  Comprehension Import Supervision Scheme (CISS) Pool levy, 15 percent wheat Grain Levy and 10 percent Rice Levy by Office of Accountant General of the Federation to these agencies illegally which were never repaid back.

This was brought to the fore by the 2015 Auditor General’s report which  was submitted by the Senate Public Accounts Committee chaired by Senator Mathew Urhoghide and approved by Senate.

According to the report of the Auditor General, N922.4 million was withdrawn from 25 percent Husked Brown Rice Levy as Loan  and  N7 billion was also collected from 1 percent CISS levy as loan and N10 billion as loan to INEC to finance 2015 Elections.

The record revealed that the money totaling N17.92 billion was released to INEC as loans 12 January, 2015, which was never repaid back to the source.

Also from 15 percent wheat grain levy, an amount totaling N31.4 billion was released to Nigerian Army, National Youth Service Corps (NYSC), Revitalization of Universities Infrastructures Account and Federal Ministry of Agric and Rural Development.

From the N31.4 billion, Nigerian Army collected – N4.7 billion to find some of their activities, NYSC collected -N6.4 billion to also fund their activities and passing out of orientation camp. Revitalization of Universities Infrastructures Account, collected – N10 billion for funding of Federal Universities, and Federal Ministry of Agric and Rural Development – N10.2 billion to fund Execution of 2013 dry season farming.

Furthermore, loan from Rice Levy account which is about N37.4 billion was given Federal Ministry of Labour and Productivity, Office of National Security Adviser, Nigerian Custom Service (NCS), Nigerian Communication Satellite Operation (NIGCOSAT), INEC, NELMCO.

From the N37.4 billion, INEC collected N10 billion, NIGCOSAT- N450 million, Federal Ministry of Labour and Productivity- N5 billion to pay the allowance of unskilled youths in Public works programme, ONSA – N3.5 billion , Ministry of Defence – N428 million, Revitalization of Universities Infrastructures Account- N5.3bn .

Findings revealed that the funds were never approved by the National Assembly before the office of Accountant General released the funds to the agencies.

The Senate therefore ordered the Office of Accountant General of the Federation to set in motion the process of recovery of the loans and refunding to Special Funds Accounts and ensure the stoppage of further withdrawal from any of these Accounts without the approval of the National Assembly.

The query from Auditor General of the Federation reads, ” It was observed from 2014  audited account that mandate No FD/LP2014/57/1/82/DF dated 12th of January, 2015 amounting to N922.4 million was withdrawn from 25 percent Husked Brown Rice Levy as Loan given to INEC to finance 2015 elections.

“The loan is contrary to the purpose which the fund was established which to help local production brown rice in Nigeria .

Another query also reads, ” it was observed from the 2014 audited Accounts that audited account that mandate No FD/LP2014/57/1/82/DF dated 12th of January, 2015 amounting to N7 billion was withdrawn from  1 Percent  Comprehension Import Supervision Scheme (CISS) Levy as loan to INEC to finance 2015 elections .

“The loan is contrary to the purpose for which the fund was created which is to fund the destination Inspection Service Providers as provided in the law because they are not paid from Annual budget.’

Continue Reading

Trending