Audit Report: Senate Asks Accountant General to Recover N910bn Short-term Loans from MDAs
Sunday Aborisade in Abuja
The Senate has asked the Office of Accountant General of the Federation to recover short-term loans it advanced federal ministries, departments and agencies from the Special Funds Accounts totaling N910 billion.
The Senate Public Accounts Committee chaired by Senator Mathew Urhoghide, which scrutinised the 2017 report of the Auditor General for the Federation discovered the anomaly.
The panel after concluding its investigation, submitted its report to the Senate in plenary.
The Committee observed that there was a continuous abuse of the Special Funds by the Executive arm of government as the withdrawals were continually made for political expediency outside the purpose which the funds were meant for.
Part of the panel’s report read, “There is continuous abuse of the Special Funds by Executive as the withdrawals are continually made for political expediency outside the purpose which the funds were meant.”
The Senate therefore ordered that all outstanding loans should be recovered by the Accountant General of the Federation and evidence of recovery presented to the Auditor General and Senate Public Accounts Committee within 60 days.
According to the AuGF query, loans and debts arising from Special Funds Accounts totaling N910,039,557,742 showed that the balances remained unpaid throughout the year even they were meant to be short term.
However, the Office of the Accountant General in its response claimed that several letters have been written to the Honorable Minister of Finance to authorise the settlement of the loans granted against allocations of various MDAs affected.
The AGF office added that it had requested the Honorable to include the loans repayment in 2017 budget.
Meanwhile, the Senate has directed the Executive Chairman of Imo State Universal Basic Education Board (SUBEB) to account paid to companies that were not financially capable contrary to requirement of extant rules
The Chairman of the board failed to appear before the Committee to defend the allegation of payment without due process.
Audit Report: Senate Asks Accountant General to Recover N910bn Short-term Loans from MDAs
Sunday Aborisade in Abuja
The Senate has asked the Office of Accountant General of the Federation to recover short-term loans it advanced federal ministries, departments and agencies from the Special Funds Accounts totaling N910 billion.
The Senate Public Accounts Committee chaired by Senator Mathew Urhoghide, which scrutinised the 2017 report of the Auditor General for the Federation discovered the anomaly.
The panel after concluding its investigation, submitted its report to the Senate in plenary.
The Committee observed that there was a continuous abuse of the Special Funds by the Executive arm of government as the withdrawals were continually made for political expediency outside the purpose which the funds were meant for.
Part of the panel’s report read, “There is continuous abuse of the Special Funds by Executive as the withdrawals are continually made for political expediency outside the purpose which the funds were meant.”
The Senate therefore ordered that all outstanding loans should be recovered by the Accountant General of the Federation and evidence of recovery presented to the Auditor General and Senate Public Accounts Committee within 60 days.
According to the AuGF query, loans and debts arising from Special Funds Accounts totaling N910,039,557,742 showed that the balances remained unpaid throughout the year even they were meant to be short term.
However, the Office of the Accountant General in its response claimed that several letters have been written to the Honorable Minister of Finance to authorise the settlement of the loans granted against allocations of various MDAs affected.
The AGF office added that it had requested the Honorable to include the loans repayment in 2017 budget.
Meanwhile, the Senate has directed the Executive Chairman of Imo State Universal Basic Education Board (SUBEB) to account paid to companies that were not financially capable contrary to requirement of extant rules
The Chairman of the board failed to appear before the Committee to defend the allegation of payment without due process.
