The sacked firms were hired by the Federal Ministry of Finance to verify documents and claims submitted by oil marketers and contractors in order to know those to be paid.
The sacking was announced in a statement issued by the Ministry of Finance.
“Concerned about the management of the subsidy regime, the Federal Ministry of Finance has for the last two months been reviewing aspects of the implementation of the subsidy regime related to its functions. The review has produced a lot of useful details on what was wrong with the system and what needs to be done to ensure improvement going forward,” the statement reads.
The ministry and other relevant government agencies commenced a review process in February to re-evaluate the reports submitted by the firms. Meetings were held with bankers as well as marketers on the order of President Goodluck Jonathan.
Following the findings from the review, the Ministry however, terminated the services of the accounting and auditing firms and set up a committee consisting of credible and experienced persons from the private and public sector under the chairmanship of Aigboje Imoukuede to verify the current claims regarding the payment of 2011 areas in order to make sure only legitimate marketers are paid.
The ministry has set up another committee in order to put in place a new and more effective system that will replace the former. The ministry is prepared to take more necessary actions base on the findings of the review.
It would be recalled that the House of Representatives ad hoc Committee that probed the management of the subsidy scheme had earlier in its report recommended that Akintola Williams and Co and Adekanola and Co firms be suspended for three years for failing to execute their job.
http://www.dailytimes.com.ng/article/fg-fires-petroleum-subsidy-accounting-and-auditing-firms
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