The House of Representatives Wednesday expressed shock at the revelation by the Bursar of the National Teachers’ Institute (NTI) Kaduna, Mallam Abdulkarim Affo, that a whopping N791million was credited into the Institute’s bank account on December 31, 2012 by the Budget Office from the Service Wide Vote (SWV) account without prior request for any financial assistance.
The bursar disclosed this when he appeared before the House Committee on Public Accounts, which is probing how the over N4.7trillion was expended by the Presidency through the Budget Office from the Service Wide Vote between 2004 and 2012 financial years .
Testifying before the committee, the bursar said: “On December 31st 2012,we just received an alert and the sum of N791million was credited into the Institute’s bank account from the Budget Office without any prior request for financial assistance from the Federal Government. We tried to make enquiries and we wrote to the Office of the Accountant ant General of the Federation to find out what was the purpose of the whopping amount but all efforts yielded no result.
” At end of the day, what the Institute did was to pay back the money to the treasury at the Central Bank of Nigeria (CBN), as required by the law of the federation. We have the evidence of payment, we never made request for any money,” he added.
Reacting to the revelation, chairman of the House committee, Hon Solomon Adeola Olamilekan, directed the Institute to furnish it with the official Treasury receipt to show that it actually returned the money to the Treasury as claimed and not that it actually went into individual bank accounts while further investigations into how the money got into the Institute’s Account in the first instance continue.
He described the transaction through the Service Wide Vote as a monumental fraud which had been allegedly going on for a long time unabated and lamented that several billions of naira of the tax payers’ money had gone down the drain.
According him.” Only last week, the NAFDAC officials appeared before the Committee over the whopping sum of N5billion claimed to have released to the Agency by the Budget Office from the Service wide vote and Agency claimed it received only N365million from the amount.
“Also, just a while ago, the National Boundary Commission appeared before the Committee over the N2billion the Budget Office claimed it released to the Commission which the Commission also denied ever receiving a kobo from the Budget Office under the Service Wide Vote. Where are we heading to? We must get to the root of these claims and counter claims. The fraud must stop, ” he lamented.
“It is disheartening that the National Assembly approved about N2.1 trillion for the Service Wide Vote Account in the period under review but at the last count over N4.7 trillion had been expended by the Executive.”
SAINT MUGAGA, ABUJA.
Source: THEWILL, http://thewillnigeria.com. Posted date: February 19, 2014
The bursar disclosed this when he appeared before the House Committee on Public Accounts, which is probing how the over N4.7trillion was expended by the Presidency through the Budget Office from the Service Wide Vote between 2004 and 2012 financial years .
Testifying before the committee, the bursar said: “On December 31st 2012,we just received an alert and the sum of N791million was credited into the Institute’s bank account from the Budget Office without any prior request for financial assistance from the Federal Government. We tried to make enquiries and we wrote to the Office of the Accountant ant General of the Federation to find out what was the purpose of the whopping amount but all efforts yielded no result.
” At end of the day, what the Institute did was to pay back the money to the treasury at the Central Bank of Nigeria (CBN), as required by the law of the federation. We have the evidence of payment, we never made request for any money,” he added.
Reacting to the revelation, chairman of the House committee, Hon Solomon Adeola Olamilekan, directed the Institute to furnish it with the official Treasury receipt to show that it actually returned the money to the Treasury as claimed and not that it actually went into individual bank accounts while further investigations into how the money got into the Institute’s Account in the first instance continue.
He described the transaction through the Service Wide Vote as a monumental fraud which had been allegedly going on for a long time unabated and lamented that several billions of naira of the tax payers’ money had gone down the drain.
According him.” Only last week, the NAFDAC officials appeared before the Committee over the whopping sum of N5billion claimed to have released to the Agency by the Budget Office from the Service wide vote and Agency claimed it received only N365million from the amount.
“Also, just a while ago, the National Boundary Commission appeared before the Committee over the N2billion the Budget Office claimed it released to the Commission which the Commission also denied ever receiving a kobo from the Budget Office under the Service Wide Vote. Where are we heading to? We must get to the root of these claims and counter claims. The fraud must stop, ” he lamented.
“It is disheartening that the National Assembly approved about N2.1 trillion for the Service Wide Vote Account in the period under review but at the last count over N4.7 trillion had been expended by the Executive.”
SAINT MUGAGA, ABUJA.
Source: THEWILL, http://thewillnigeria.com. Posted date: February 19, 2014
http://thewillnigeria.com
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