The 2014 Annual Audit Report has revealed shocking massive fraud that went on in many government agencies totaling trillions of dollars.
The 2014 Annual Audit Report presented to the National Assembly on Monday by the office of the Auditor General of the Federation has exposed massive fraud that took place in many agencies of owned by the government.
According to the report, the Nigerian National Petroleum Corporation failed to remit a whopping N3,234, 577,666,791.35 to the Federation Account Allocation Committee in 2014 which it didn't account for.
It was also revealed in the report that the Nigeria Liquefied Natural Gas failed to pay $235,685,861 to the federation account being money generated from the sale of gas but diverted the money to an undisclosed Escrow Accounts. No one was held accountable for this massive fraud.
The report alleged that relevant documents were not made available to the office of the Auditor General for verification.
It was also discovered according to the report that N2,894,531250.00 was spent on the procurement of hand sanitisers for schools and critical public places to tackle the Ebola epidemic and a whopping N36,432,423,968.73 was released to the Office of the National Security Adviser, for the rehabilitation and construction which ought to have gone to the Federal Ministry of Water Resources. The money was released under the headship embattled former NSA, Col. Sambo Dasuki (retd.),
According to the report, “The sum of N31,324,952,239.87 was paid as subsidy on fertiliser and youth employment in agricultural programmes.
“The sum of N2,395,851,978.00 was payment for group Life Assurance Premium for Armed Forces budget in 2013, but not backed (by cash). The sum of N500,000,000 was made as payment for agricultural programmes.
“These were variances with the purpose of the fund. No evidence of these lines of expenditure in the 2014 Appropriation Act.”
The report also uncovered another fraud in the National Assembly as it revealed that the Clerk, made payments of N9,514,568,222.62, without raising payment vouchers in flagrant disobedience to the laid down financial rules.
Revealing further the massive fraud and sabotage that happened, the report revealed how the Embassy of Nigeria in Washington DC, United States of America, realised Internally Generated Revenue of $3,705,428.00 between 2012 and March 2015, but expended the whole amount on sundry expenses. It also gave graphic account how a 22-storeyed building, housing the Nigerian Consulate-General, the National Boundary Commission of Nigeria and the National Intelligence Agency has been deteriorating even after millions has been budgeted for its maintenance. But, the money has continued to be diverted for personal use.
The report accused the leadership of the Nigerian Prisons Service of failing to remit N2,036,758,176.75, being money gathered from Pay-As-You-Earn tax to the Federal Inland Revenue Service. The report noted that there was no evidence of remittance and nothing was produced for audit confirmation.
According to the report, a vessel was purchased in Singapore on behalf of the Ministry of Petroleum Resources for training programme but the vessel had since been abandoned for five years.
“The cost of the purchase and how much was paid before the vessel was abandoned could not be ascertained due to the fact that the contract was awarded without the involvement of the Nigerian Mission in Singapore,” it added.
The report also made a startling revelation how $1.6m out of a contract sum of $2.3m was paid for the building of school by Nigeria in Haiti without a single block being erected up till now but a whopping sum has already been paid.
The report stated, “As of the time of inspection, there was no evidence of a Memorandum of Understanding between Nigeria and the Haitian Government for the construction of the school. More so, the location of the school was not affected by earthquake in 2010. Therefore, the purpose for which the money was given could not be achieved.”
The report also uncovered an alleged N3.8bn allocation in the Ecological Fund, which was disbursed to Lagos, Ogun, Kebbi and Sokoto states as grants for undisclosed reasons and changed to capital vote in 2010.
“Despite repeated demands for payment vouchers they were not provided. We could not verify the nature of the grants,” the report added.
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