CSO urges NASS to investigate MDAs over unaccounted N3.5tr - Buzzyforum
CSO urges NASS to investigate MDAs over unaccounted N3.5tr
Paradigm Leadership Support Initiative (PLSI), a non-profit organisation with a mission to advance accountability and foster good governance, has appealed to the Public Accounts Committee (PAC) of the National Assembly to investigate the N3.5 trillion unaccounted for by ministries, departments and agencies (MDAs).
The amount, which was uncovered by the 2021 audit report of the Office of the Auditor General for the Federation (OAuGF), cuts across MDAs. PLSI on its official X handle yesterday said the financial irregularities weaken governance and hinder national development.
It called on the Public Accounts Committee to investigate the findings and ensure that the funds are recovered for the government. The report said about eight MDAs failed to recover outstanding revenue and debts amounting to N2.9 trillion with the Nigerian Bulk Electricity Trading Plc (NBET) accounting for the lion’s share of N2.89 trillion.
Thirty-one MDAs made payments valued at N167.6 billion for jobs and contracts not executed. NBET allegedly made a payment of N100 billion for contracts not executed.
It was also discovered that 19 MDAs incurred expenditures worth N122.5 billion, which they could not account for, of which NBET again accounted for over 50 per cent.
NBET was also found culpable of making N96.2 billion irregular payments out of N115.8 billion of such payments traced to 64 MDAs. The report revealed that N7.39 billion constituted irregularities in the award of contracts by 32 MDAs. The Rural Electrification Agency posted the highest infraction of N2.12 billion.
It was reported that 21 MDAs did not deduct N2.64 billion as tax from payments to several beneficiaries, while 11 MDAs failed to remit N11.56 billion tax deducted from taxpayers to relevant authorities.
Nigerian Security Printing and Minting Company Plc recorded the highest sum of N10.393 billion. Forty MDAs paid out N8.31 billion without support documents with the Presidential Amnesty Programme adding N1.53 billion.
Eight MDAs misapplied N663.86 million with the University of Benin Teaching Hospital, Benin City, accounting for N253.53 million.
Twenty-four MDAs awarded contracts worth N20.33 billion without following due process. The Nigerian Security Printing and Minting awarded the bulk of the contracts valued at N14.14 billion.
https://guardian.ng/business-services/business/cso-urges-nass-to-investigate-mdas-over-unaccounted-n3-5tr/
The amount, which was uncovered by the 2021 audit report of the Office of the Auditor General for the Federation (OAuGF), cuts across MDAs. PLSI on its official X handle yesterday said the financial irregularities weaken governance and hinder national development.
It called on the Public Accounts Committee to investigate the findings and ensure that the funds are recovered for the government. The report said about eight MDAs failed to recover outstanding revenue and debts amounting to N2.9 trillion with the Nigerian Bulk Electricity Trading Plc (NBET) accounting for the lion’s share of N2.89 trillion.
Thirty-one MDAs made payments valued at N167.6 billion for jobs and contracts not executed. NBET allegedly made a payment of N100 billion for contracts not executed.
It was also discovered that 19 MDAs incurred expenditures worth N122.5 billion, which they could not account for, of which NBET again accounted for over 50 per cent.
NBET was also found culpable of making N96.2 billion irregular payments out of N115.8 billion of such payments traced to 64 MDAs. The report revealed that N7.39 billion constituted irregularities in the award of contracts by 32 MDAs. The Rural Electrification Agency posted the highest infraction of N2.12 billion.
It was reported that 21 MDAs did not deduct N2.64 billion as tax from payments to several beneficiaries, while 11 MDAs failed to remit N11.56 billion tax deducted from taxpayers to relevant authorities.
Nigerian Security Printing and Minting Company Plc recorded the highest sum of N10.393 billion. Forty MDAs paid out N8.31 billion without support documents with the Presidential Amnesty Programme adding N1.53 billion.
Eight MDAs misapplied N663.86 million with the University of Benin Teaching Hospital, Benin City, accounting for N253.53 million.
Twenty-four MDAs awarded contracts worth N20.33 billion without following due process. The Nigerian Security Printing and Minting awarded the bulk of the contracts valued at N14.14 billion.
https://guardian.ng/business-services/business/cso-urges-nass-to-investigate-mdas-over-unaccounted-n3-5tr/
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