N197.72 billion contract fraud uncovered by Fed Gov’t in CBN, REA, NBET, others
N197.72 billion contract fraud uncovered by Fed Gov’t in CBN, REA, NBET, others
Some irregularities in contract payments totaling N197.72 billion across several key agencies, including the Rural Electrification Agency (REA), Nigerian Bulk Electricity Trading Plc (NBET)—a subsidiary of the Central Bank of Nigeria—and the Nigerian Security Printing and Minting Company (NSPMC), among others, has been uncovered by the Office of Nigeria’s Auditor-General.
These findings, revealed in the Auditor-General’s Annual Report on Non-Compliance and Internal Control Weaknesses, cover the period from 2020 to 2021.
The report highlights significant breaches in financial and procurement protocols, including payments for contracts that were either only partially completed or not executed at all. The findings suggest widespread non-compliance with the country’s financial regulations.
Among the 32 Ministries, Departments, and Agencies (MDAs) flagged for irregularities, N7.386 billion was identified as being misappropriated in contract awards. The REA emerged as the agency with the highest irregular payments, totaling N2.12 billion, while NSPMC had the smallest irregularity, amounting to N11.7 million.
“The sum of N7,386,551,051.09 (seven billion, three hundred and eighty-six million, five hundred and fifty-one thousand, fifty-one naira, nine kobos) was the number of irregularities in the award of contracts by 32 ministries, departments and agencies.
“The Rural Electrification Agency, Abuja, has the highest amount of N2,117,143,168.09 (two billion, one hundred and seventeen million, one hundred and three thousand, one hundred and sixty-eight naira, nine kobo), while the Nigerian Security Printing and Minting Company Plc (NSPM) has the least amount of N11,720,000 (Eleven million, seven hundred and twenty thousand,” the report indicated.
The most alarming finding in the report revealed that a total of N167.59 billion was paid for jobs or contracts that were either partially completed or not executed at all. This violates Paragraph 708 of the Financial Regulations, which prohibits payments for undelivered services or goods.
The Nigerian Bulk Electricity Trading Plc, a key agency in the power sector, was responsible for the largest share of these irregular payments, amounting to N100 billion. In contrast, the National Centre for Women Development recorded the smallest irregularity, with a payment of N2.17 million.
The report read, “The sum of N167,592,177,559.40 (one hundred and sixty-seven billion, five hundred and ninety-two million, one hundred and seventy-seven thousand, five hundred and fifty-nine naira, forty kobos) was the number of payments for jobs/contracts not executed by 31 ministries, departments and agencies.
“The Nigerian Bulk Electricity Trading Plc., Abuja, has the highest amount of N100,000,000,000.00 (one hundred billion naira), while the National Centre for Women Development has the least amount of N2,171,766.44 (two million, one hundred and seventy-one thousand, seven hundred and sixty-six naira, forty-four kobo).”
The report also revealed significant due process violations in contract awards totaling N20.33 billion across 24 Ministries, Departments, and Agencies (MDAs). These violations contravene Section 16(21) of the Public Procurement Act (PPA) 2007, which mandates compliance with procurement plans and the necessity for prior approvals before contracts are awarded.
The audit found that these provisions were frequently disregarded. Notably, NSPM, a subsidiary of the Central Bank of Nigeria, was identified as the primary offender, accounting for N14.14 billion in violations, while the Corporate Affairs Commission reported the smallest amount of N8.98 million.
“The sum of N20,334,104,016.27 (twenty billion, three hundred and thirty-four million, one hundred and four thousand, sixteen nairas, twenty-seven kobo) was the number of contracts awarded in violation of due process by 24 ministries, departments and agencies.
“The Nigerian Security Printing and Minting Company Plc Abuja has the highest amount of N14,136,472,333.16 (fourteen billion, one hundred and thirty-six million, four hundred and seventy-two thousand, three hundred and thirty-three naira, sixteen kobos) while the Corporate Affairs Commission has the least amount of N8,980,603.72 (eight million, nine hundred and eighty thousand, six hundred and three naira, seventy-two kobo),” it added.
News
Report any officer asking for money for release of suspect as Police insist bail is free
Report any officer asking for money for release of suspect as Police insist bail is free
The Police Command in the Federal Capital Territory (FCT) has insisted that bail is free, and called on the public to report any officer asking for money to release a suspect on bail.
The Police Public Relations Officer in the FCT, SP Josephine Adeh, said this in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja.
Adeh spoke in reaction to public outcry that some police officers were demanding money to release suspects on bail in the territory.
She said the report of the erring officers would serve as a deterrent to others, adding that it was fraudulent to demand for money to release a suspect on bail.
Adeh blamed the yielding to such fraudulent demand on ignorance on the part of the victims who refused to stand on their rights.
“A similar case was reported where an officer demanded money to release a suspect on bail and when the matter was reported, we requested for evidence from the victim.
“The evidence was provided because the money was transferred to the officer’s account and actions are being taken on the issue.
“So, I encourage the public to take advantage of the FCT Police Complaint Response Unit (CRU) lines on 08107314192 to report such misconduct with evidence,” she said.
Adeh urged the public to always insist on their rights and refuse any form of payment to release a suspect on bail.(NAN)
News
Former President sentenced to five years in prison by Court
Former President sentenced to five years in prison by Court
South Korea’s former president Yoon Suk Yeol was on Friday sentenced to five years in prison for obstruction of justice.
The Seoul Central District Court found that the 65-year-old conservative, with the help of the presidential security service, had tried to prevent his own arrest and deleted multiple documents related to the investigation against him.
Yoon shocked the nation by imposing martial law on December 3, 2024, amid a budget dispute with the opposition, plunging the country into a political crisis.
He justified the drastic measure as necessary to protect South Korea’s democratic order and accused the left-leaning opposition of being infiltrated by communists with ties to China and North Korea, though he provided no evidence for these claims.
In a separate trial, prosecutors have sought the death penalty for Yoon on charges of incitement, with a verdict expected on February 19.
While the death penalty remains legally in force in South Korea, it has not been carried out for nearly 30 years.
Yoon’s actions previously alarmed international investors and led to withheld investments, damaging the reputation of South Korea as a political and economic model for the region.
Since last summer, South Korea has been led by President Lee Jae Myung, a left-leaning centrist and long-time political rival of Yoon. (dpa/NAN)
News
JUST IN; Imam that famously shielded 262 Christians from death during Plateau attack is dead
JUST IN; Imam that famously shielded 262 Christians from death during Plateau attack is dead
The Imam of Nghar village, Abubakar Abdullahi in Barkin Ladi Local Government Area of Plateau State, who famously sheltered 262 Christians during communal violence, has passed away.
The Imam’s Son Saleh Abubakar, confirmed the development to Daily Trust on Friday, saying that the cleric died on Thursday night at the Plateau Specialist Hospital in Jos.
The Son said, his father “died ten days after he was admitted” in the hospital.
“He was initially diagnosed with a heart problem. He’d go for check-ups and return. His health hadn’t been stable since the heart disease diagnosis.”
Imam Abubakar died at the age of 90. He is survived by 19 children – 12 sons and seven daughters.
Tecall that in June 2018, during violent, faith-based communal clashes that affected 10 villages in Barkin Ladi, Imam Abubakar sheltered 262 Christians in his mosque and residence until the violence subsided, saving them from certain death.
His courage earned him widespread recognition, including the International Religious Freedom Award presented by the United States Department of State in 2019.
The late cleric will be laid to rest on Friday (today) in Nghar village after the Juma’at prayers.
-
6 years ago
Our situation in Kano terrible – Gov Ganduje cries out
-
News11 months agoFG pledges commitment to enhance Police officers Welfare, implement Tinubu’s 8-point agenda for NPF
-
News11 months agoBREAKING; NSCDC gets approval to commence 2025 recruitment exercise
-
News9 months agoAlleged cocaine deal: Court issues orders in suspended DCP Abba Kyari’s case
-
News12 months agoDPO under investigation for allegedly taking teenage girl to his home while in police custody
-
News12 months agoJUST IN; Commissioner of Police bows out of Service
-
News9 months agoJUST IN; Police Inspector dies watching Arsenal match
-
News12 months agoBREAKING; NLC declare nationwide protest