Senate indicts Accountant General over failure to recover N910bn short-term loan to MDAs
…orders Imo State SUBEB to refund N482m paid illegally to unqualified contractors
By Tunde Opalana
Senate has indicted the Office of the Accountant General of the Federation over failure to repay short term loans given to Ministries, Departments and Agencies from Special Funds Accounts totaling N910 billion.
This followed the discovery made after thorough investigation by the Senate Public Accounts Committee (SPAC) chaired by Senator Mathew Urhoghide in the submission of 2017 report of the office of the Auditor General.
According to a query issued in the report, loans and debts arising from Special Funds Accounts totaling N910,039,557,742 showed that the balances remained unpaid throughout the year even they were meant to be short term.
But, Office of the Accountant General in its response claimed that several letters have been written to the Honorable Minister of Finance to authorize the settlement of the loans granted against allocations of various MDAs affected .
The AGF office added that it had requested the Finance minister to include the loans repayment in 2017 budget.
The Senate Public Accounts Committee observed that there is continuous abuse of the Special Funds by Executive as the withdrawals are continually made for political expediency outside the purpose which the funds were meant .
The report reads, ” There is continuous abuse of the Special Funds by Executive as the the withdrawals are continually made for political expediency outside the purpose which the funds were meant.”
READ ALSO: We’ll be fair, equitable to Deltans
The Senate, therefore, ordered that all outstanding loans should be recovered by the Accountant General of the Federation and evidence of recovery presented to the Auditor General and Senate Public Accounts Committee within 60 days .
Meanwhile, Senate has directed the Executive Chairman of Imo state Universal Basic Education Board (SUBEB) to account for monies paid to companies that were not financially capable, contrary to requirement of extant rules
The Chairman of the board failed to appear before the Committee to defend the allegation of payment without due process.
