Twenty-eight (28) MDAs were identified as involved in the illegal transactions following a careful review of the Bank Balances from the Consolidated Financial Statement.
EXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisisEXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisisTwenty-eight MDAs were identified as involved in the illegal transactions following a careful review of the Bank Balances from the Consolidated Financial Statement.
The audit report revealed that the MDAs had negative balances to the tune of N13.95 trillion , a violation of the Financial Regulations 2009 which states that: “No government bank account shall be overdrawn, or any temporary advance obtained from a bank. In the event of an account being overdrawn, the officer responsible shall be made to refund any bank charges incurred thereon”.topped the list of the defaulting MDAs, having overdrawn N350.
However, an audit of account statements through the Government Integrated Financial Management System traced some of the withdrawals to personnel and overhead financing as well as bank charges against MDAs for the usage of the Central Bank of Nigeria gateway—a clear negation of the essence of the Treasury Single Account .by the federal government in April 2012 to tackle budget management and accounting across MDAs, to address issues of economic inefficiency.
“A public officer who makes an irregular payment from public funds, shall be given 21 days notice to offer an explanation. Where no satisfactory explanation is given, the amount involved shall be recovered from the officer and such officer shall be removed from the schedule.
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.
Nigeria's Lack of Seriousness in the Fight Against CorruptionThe lack of Nigeria’s seriousness in the fight against corruption is epitomised by the EFCC’s revival this January, of the N772 billion fraud cases of 13 former governors, who left office in 2007. There is evidence that a humongous sum of $4.5 billion in Nigeria’s Foreign Reserves could not be accounted for, after an audit by the Auditor-General of the Federation in 2022, as stated in a report released last month. Apparently, the big elephant in the room – corruption, is on display, which a former President said will kill Nigeria, if it was not killed. Paradoxically, no administration has demonstrated the resolve to confront this monster squarely
Read more »
Cancer Care: Nigeria has only eight certified radiotherapy centresAccording to the Global Cancer Observatory (Globocan), cancer causes an estimated 78,000 deaths in Nigeria annually.
Read more »
Why we were suspended, hounded out of ZamfaraThe eight lawmakers were suspended by the state assembly for allegedly holding an illegal plenary
Read more »
NPFL Roundup: Rangers extend unbeaten run as Shooting Stars secure surprise winEight home wins, a draw and a surprising away victory was recorded in Gombe by Shooting Stars.
Read more »
British Council, PTI award N2m to winners of Enterprise Challenge ProgrammeThe British Council and Prince’s Trust International (PTI) have awarded N2 million to the top eight contestants for the Sustainable Enterprise Challenge Programme (TSECP).
Read more »