Senate has ordered the Office of Accountant General of the Federation to commence the process of recovery of the N76 billion loans accessed from Special Funds Accounts by federal government agencies and ensure the stoppage of further withdrawal from any of these accounts without the approval of the National Assembly.
This is following unearth of the N76 billion collected from Office of Accountant General illegally by the Independent National Electoral Commission INEC, Nigerian Army, Office of National Security Adviser, and others.
The revelation was contained in the 2015 Auditor General report, which was submitted by the Senate Public Accounts Committee chaired by Senator Mathew Urhoghide and approved by Senate.
According to the query from Auditor General of the Federation, “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2014 audited account that mandate No FD/LP2014/57/1/82/DF dated 12th of January, 2015 amounting to N922.4 million was withdrawn from 25 percent Husked Brown Rice Levy as Loan given to INEC to finance 2015 elections.”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 is to help local production brown rice in Nigeria.”
Another query also reads: “It was observed from the 2014 audited Accounts that mandate No FD/LP2014/57/1/82/DF dated 12th of January, 2015 amounting to N7 billion was withdrawn from 1 Percent Comprehension Import Supervision Scheme (CISS) Levy as loan to INEC to finance 2015 elections .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.”
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.
The report of the Auditor General, N922.4 million was withdrawn from 25 percent Husked Brown Rice Levy as Loan and N7 billion was also collected from 1 percent CISS levy as loan and N10 billion as loan to INEC to finance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 disclosed that the money totaling N17.92 billion was released to INEC as loans on the 12th of January, 2015, which was never repaid back to the source.
The report said, 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 Agriculture and Rural Development.
It added that, from the N31.4 billion, Nigerian Army collected – N4.7 billion to finance 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 Agriculture and Rural Development – N10.2 billion to fund execution of 2013 dry season farming.
Besides, loan from Rice Levy account which is about N37.4 billion was given to 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- N5.3billion .
The report said the funds were not approved by the National Assembly before the office of Accountant General released the funds to the agencies.
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