Senate queries loss of N54b on external loans - Waffi Tv

Senate queries loss of N54b on external loans

Waffi TVJuly 22, 2021

The Senate has referred to as for the sanction of officers withinside the Office of the Accountant-General of the Federation, who made Nigeria lose $274.2million (N54.1billion) on outside loans.

The Upper Chamber accredited the record of the Senate Committee on Public Accounts earlier than intending on annual excursion closing week.

The Senate, in its decision, requested the Accountant-General of the Federation, Ahmed Idris, to pick out the officials and sanction them for mismanaging public funds, according with Rule 3115 of the Financial Regulations and for gross misconduct.

Rule 3115 of the Financial Regulations reads: “An accounting officer who’s queried for his failure to control or spend public funds, successfully or who spends public cash with out due regard to financial system opposite to Financial Regulation 415 and fails to answer to the question, will be eliminated from the time table and be disciplined according with the Public Service Rules.”

The Auditor-General of Federation’s question titled: “Inconsistent trade loss distinction on outside loans” reads: “During the exam of Note fifty one and Appendix to Note 52, it changed into located that there has been a complete trade loss distinction of $278.2 million (N54.1billion) said through the Office of the Accountant-General of the Federation withinside the file supplied however this will now no longer be observed withinside the DMO (Debt Management Office) record.

“Also, the standards for arriving on the trade loss distinction of $274.2 million (N54.1billion) turned into now no longer disclosed.

“The Accountant-General of the Federation in his reaction maintained that the remaining stability is as supplied through DMO whilst the trade distinction of $274.2 million (N54.1bn) became due to a couple of currencies that have been worried and unmarried trade rate.

“The Accountant-General of the Federation is (therefore) required to offer the supply(s) of the trade loss distinction of $274.2 million (N54.1billion) with documentary evidence.

Provide the calculations displaying how those figures have been arrived at and the motives for the trade loss for every of the figures have to be explained. Disclose the supply of trade distinction in a note.”

The top chamber, in its decision after the presentation of the document of the Senate Community on Public Accounts with the aid of using Senator Matthew Urhoghide, upheld the advice of the Committee asking that officers concerned withinside the transaction be sanctioned.

The question is contained withinside the 2015 document of the Auditor-General of the Federation at the economic assertion of the Federal Government of Nigeria and the Federation Account.

Categories

Leave a comment

Name *
Add a display name
Email *
Your email address will not be published
Website