FG discovers another massive fraud of N3.3 trillion in its agencies

– The Auditor General of the Federation, Samuel Ukura in his report submitted to the National Assembly, revealed that the sum of N3.3 trillion was not remitted to the federation’s coffers

 – Ukura gave a detailed list of government agencies that refused to pay money to the federation account allocation committee

The Federal Government has discovered another massive fraud of N3.3 trillion in its own agencies. According to a post on the Facebook page of APC news alert, the discovery was contained in a report submitted to the clerk of the National Assembly, Salisu Makaisuwa, on March 14 by the Auditor General of the Federation, Samuel Ukura.

It was gathered that out of the lot, the Nigerian National Petroleum Corporation (NNPC) pin down N3.2 trillion.

Ukura said the N3.2 trillion that accrued from crude oil sales was not remitted to the federation account allocation committee. He said a total payment of N73.5 billion were made contrary to the established purpose of the money.
The report reads in part: “The sum of N36 billion was released to the Office of the National Security Adviser for the rehabilitation and construction of Dams instead of the Federal Ministry of Water Resources. The Sum of N2.9 billion was spent for the procurement of hand sanitizer for schools and critical public places.

“The sum of N31 billion was payment of subsidy on fertiliser and youth employment in Agriculture programme. The sum N2.4 billion was payment for group life Assurance Premium for Armed Forces Budget in 2013 but not cash backed. The sum of N500 million was payment for schools Agricultural programmes.

 “From examination of NNPC mandates to CBN on domestic crude Oil sales and reconciliation statement of Technical Sub-committee of Federation Allocation Committee meeting held in January 2014, amount not remitted to FAAC was N3.2 trillion.

 “Review of sales profile on sales of Gas to Nigeria Liquefied Natural Gas was not paid to the Federation Account but transferred to some undisclosed Escrow Accounts. Relevant documents were not made available for verification.”

The report further revealed other agencies involved in the fraud to include; the police service commission, foreign mission, Nigeria ports authority, petroleum equalisation fund, Nigerian prison service and the federal airports authority of Nigeria.

Sahara Reporters informed that the Central Bank of Nigeria (CBN) recently suspended some of its top officials over multi-million naira fraud. A statement issued by the acting director, corporate communications, Isaac Okoroafor, disclosed that one of the three deputy governors of the apex bank and two directors were involved in the multi-million naira scam.