No cash backing for N2.3b Armed Forces premium
$316.2m can’t be traced
FACTS AND FIGURES
•$235.6m gas cash diverted to escrow accounts
•N73.5b spent contrary to established purpose
•N36.4b released to ONSA for dam rehabilitation
•N10billion SURE-P funds undisclosed
•National Assembly’s management disbursed N9,514,568,222.62, without payment vouchers
•N12.6b rice levy spent on urgent and critical needs
•No evidence of accounting for the utilisation
of the N5,199, 864, 234 Police Reward Fund
•Beneficiaries of N803, 165, 879.78 withdrawn from Ministry of Niger Delta not named
•$2.3m contract awarded by Nigerian High Commission in Jamaica without due process
•N2,395,851,978.00 for Group Life Assurance Premium for Armed Forces not cash backed
A sordid picture of financial recklessness in the Dr. Goodluck Jonathan administration was yesterday painted by the Auditor-General of the Federation (AGF), Mr. Samuel Ukura.
He said about N3.2trillion revenue was not remitted to the Federation Account.
Besides, $235.6m earned from gas was diverted to undisclosed escrow accounts.
Ukura said the whereabouts of $316.2m in NGL Funding Account was unknown because no document was made available to confirm either the receipt or utilisation of the cash.
More shocking was the disclosure by the AGF that payments amounting to about N73,547,759. 436 were made contrary to the established purpose of the funds.