The Senate Public Accounts Committee, which relied on the report of the Auditor General of the Federation, has asked PPPRA to recover the money within six months.
An audit of the accounts of the Petroleum Products Pricing Regulatory Agency has revealed that N1.6 billion , being the “over recovery” due from the oil marketers in 2015 is yet to be collected by the agency.
Although the state oil company, NNPC, is now the main importer of petrol in Nigeria, oil marketers used to import petroleum products with their funds and recover their money afterwards, through the PPPRA. But in 2015 the oil marketers recovered N1.6 billion more than was required, the audit report noted.
Over a year after the money was overpaid to the marketers, the PPPRA did not recover it, contrary to usual practice in the industry, the auditors notedThe report was submitted to the Senate by its Committee on Public Account in June. The PPPRA is part of the 114 Ministries, Departments and Agencies indicted and queried by the auditor-general for incessant violation of extant rules, some of which include non-retirement of personal advances within a financial year and grant of cash advances above approved limit.In the report obtained by
, all 114 MDAs were queried by the auditor-general. About 84 responded, made submissions and appeared before the Senate panel to defend the queries raised. Another 21 MDAs sent in written reports but did not appear before the committee.including the Ministries of Information, Police and Health, refused to appear before the Senate Committee.how the Code of Conduct Bureau was queried by the Senate for spending N995 million on “store items” and paying salaries to dead officers.
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