By Levinus Nwabughiogu Abuja
House of Representatives Committee on Public Accounts has written to the Nigerian National Petroleum Corporation, NNPC, following the audit query of the Auditor-General of the Federation on the $20.3 billion illegal withdrawals from the Nigerian Liquefied Natural Gas, NLNG, account, requesting full details.
The Committee which showed dissatisfaction with the explanations so far given by NNPC also asked for the comprehensive financial records of the corporation with expenditure details of funds utilisation from the inception of NLNG to date.
The Committee’s request was contained in a letter with Reference No: HR/PAC/SCO5/9NASS/QUE.9/974 dated December 7, 2020 signed by its Chairman, Oluwole Oke and addressed to the NNPC Group Managing Director, Mele Kyari.
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Leke Baiyewu, Abuja
The House of Representatives Committee on Public Accounts has condemned the failure by the Federal Mortgage Bank of Nigeria and the Tertiary Education Trust Fund to present their audited accounts for five years.
The committee also criticised the Central Bank of Nigeria and the Nigeria Social Insurance Trust Fund for not paying up their 30 per cent and 20 per cent equity capital as shareholders of the bank, respectively, as stipulated by the FMB Establishment Act.
The committee spoke in Abuja on Thursday at an investigative hearing on audit queries issued by the Office of the Auditor Genaral of Federation against ministries, departments and agencies of the Federal Government.
The Chairman of the committee, Wole Oke, said it was discovered that the two entities had not paid their equity shares in FMBN.
The FMBN was summoned by the committee alongside the Tertiary Education Trust Fund (TETFund) over their agency’s five years unaudited accounts.
According to the committee, the CBN and NSITF have not paid up their 30 and 20 per cent equity capital respectively as shareholders of the bank as stipulated by the FMBN Establishment Act.
Making a submission, the FMBN Managing Director (MD), Ahmed Dangiwa, explained that the federal government owed and had paid N60m out of the N1.5bn; being its 50 per cent share of equity in the bank.
By Udora Orizu
The House of Representatives Committee on Public Accounts yesterday expressed dismay over the failure of the Federal Mortgage Bank of Nigeria (FMBN) and Tertiary Education Trust Fund (TETFUND) to audit their accounts for five years, describing it as worrisome and gross violation of the 1999 Constitution (as amended).
The Chairman of the committee Hon. Oluwole Oke, at an investigative hearing on audit queries by Auditor-General of Federation on Ministries, Departments and Agencies (MDAs), had grilled the Managing Director of FMBN, Mr. Ahmed Dangiwa, and other officials of the agency on the unaudited accounts.
Oke expressed dissatisfaction with non-compliance of the agencies to the extant provision of the laws on audited accounts despite having made previous appearances before the committee on the contentious issue.
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