The Senate has indicted the Office of Accountant General of the Federation over its failure to refund short term loans given to Ministries, Departments
This was even as the Red Chamber ordered that all outstanding loans be recovered by the Accountant General and evidence of recovery presented to the Auditor General for the Federation, AuGF and Senate Public Accounts Committee, SPAC within 60 days.
According to the query by the OAuGF, loans and debts arising from Special Funds Accounts totalling N910,039,557,742 showed that the balances remained unpaid throughout the year under review even though they were meant to be short term. The request to include the loans repayment in the 2017 budget, it added, had been forwarded to the minister’s office.
“There is continuous abuse of the Special Funds by the Executive as the withdrawals are continually made for political expediency outside the purpose which the funds were meant,” the report stated.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
I'll Be The Next Senate President— Sen Osita DeclaresAs preparations continue in top gear for the 10th Assembly, the Senator-elect for Imo West Senatorial District, Osita Izunaso, declared that he will be the
Read more »
Izunaso Vows To Become Next Senate PresidentAs preparations continue for the 10th Assembly, the senator -elect for Imo West Senatorial District, Osita Izunaso, has declared that he will be the next
Read more »
Senate reduces ICPC chair’s administrative powersThere are insinuations that the Senate, during its recent amendment of the Independent Corrupt Practices and Other Related Offences Commission Act (2000), stripped the Chairman of the commission of some powers, Sunday PUNCH has gathered. The Senate passed the 70-clause amendment bill on Tuesday.
Read more »
Senate, House hold valedictory sessions as 9th Assembly winds downThe ninth National Assembly, which was inaugurated on June 11, 2019, will wind down this week, Sunday PUNCH reports.
Read more »
Nigerian Senate whittles down powers of ICPC chair, may cripple agency’s capacity to fight corruptionA review of the proposed legislation passed by the Senate shows it can render the ICPC chair redundant and incapacitate the commission...
Read more »
EFCC Lacks Powers To Probe Zamfara State’s Accounts – Court DeclaresThe court held that the power to audit the public accounts of the state is not vested in the 1st defendant (EFCC) or any other authority, person, body or
Read more »