Senate Mourns Brutal Killing Of Dr. Chike Akunyili
Nigerian senate

Senate Asks NPA, BPE, Other MDAs To Refund Public Funds

3 mins read

The Senate has approved the 2015 report of its committee on public accounts which charged 59 Ministries, Departments and Agencies (MDAs) of government that have been asked to refund over N300billion to the Federation Account.

For over a year, the Senate panel had been investigating expenditures of federal government agencies from 2015-2018 based on the audit report by the Auditor General for the Federation (AUGF).

The report also indicted the Nigerian National Petroleum Corporation (NNPC) over its non remittance of N3.8trillion that was gotten from crude oil sales in 2015.

The Economic Financial Crime Commission (EFCC) and the Independent Corrupt Practices and other related Offences Commission (ICPC) were also mandated by the report to go after government officials who diverts funds during the year.

Two weeks ago, the extensive report which had been submitted for the upper chamber’s consideration and approved by Senator Matthew Urhoghide, the committee chairman was asked by the senate to summarize the report before it is considered.

READ ALSO  NPA Seeks Security Agencies Collaboration To End Attacks On Vessels

Senator Urhoghide said that, out of the 114 MDA that were queried in 2015 audit report only 59 had their queries sustained after probe.

Urhoghide also said that his panel observed across board, the incessant violation of rules by the MDAs.

Still on the report, Senator Ibrahim commented that his calculations of the misappropriated funds by these federal agencies as over N300 billion.

The Senate President, Dr. Ahmad Lawan, said the agencies would be given 60days to refund all funds and after the ultimatum has expired, the National Assembly could involve the ICPC, EFCC and other anti-graft agencies.

After a thorough debate, the senate looked into the report and mandated the charges agencies to act towards the Senate’s order after do the needful within 60days.

The upper chamber charged the Nigerian National Petroleum Corporation for under-remitting N3,878,955,039,855.73 trillion from domestic crude oil sales to the Account of the Federation from January- December in 2015.

READ ALSO  Nigerian Gov't Stops Seplat Energy, ExxonMobil's $1.28 billion Oil Deal

The Senate said that the NNPC should desist from under-remitting because it contravenes Section 162(1) of the 1999 amended constitution.

It also mandated the FAAC to approve an agreed percentage which should be allocated to NNPC as operational cost to ensure that their operations are not hugely affected.

These were part of the 59 recommendations that the senate adopted which was contained in the Annual report of the Auditor General for the Federation for December, 2015.

The upper chambers demanded sanctioning account officers in MDAs with Rule 3124 of financial regulations due to unretired advances involving 39 MDAs to N2,296,567,084.37billion.

The upper chamber also gave the Accountant General of the Federation 90-days ultimatum you identify and sanction the officers responsible for the mismanagement of N54,151,360,000 billion as exchange loss on External Loans.

READ ALSO  Energy Transition: Industry players say no cause for alarm

The Accountant General was also given another different 90days timeline to process the recovery of Internal Loans that is made from other funds and should be paid back to the special funds account.


Support Investigative Journalism and Mentorship

Courageous Journalism of Truth,Transparency and Development is in the DNA of Prime Business Africa; By donating as little as N1000 or $1 today, you are helping to keep credible journalism and life-changing information free for all.

+ posts