Crisis entrepreneurship
Femi Adesina gave some details of the interim report of the Presidential Committee asked to probe Defence finance since 2007. Listen to the Presidential spokesperson:
"As part of the findings, the committee has analyzed interventions from some organizations that provided funds to the Office of the National Security Adviser, Defence Headquarters, Army Headquarters Naval Headquarters and Nigerian Air Force Headquarters, both in local and foreign currencies.
"So far the total extra budgetary interventions articulated by the committee is Six Hundred and Forty Three Billion, Eight Hundred and Seventeen Million, Nine Hundred and Fifty Thousand, Eight Hundred and Eighty Five Hundred Naira and Eighteen Kobo (N643,817,955,885.18).
The foreign currency component is to the tune of Two Billion, One Hundred and Ninety Three Million, Eight Hundred and Fifteen Thousand US Dollars and Eighty Three Cents ($2,193,815,000.83).
These amounts exclude grants from the State Governments and funds collected by the DSS and Police. It was observed that in spite of this huge financial intervention, very little was expended to support defense procurement.
"The committee also observed that of 513 contracts awarded at $8,356,525,184.32; N2,189,265,724,404.55 and €54,000.00; Fifty Three (53) were failed contracts amounting to $2,378,939,066.27 and N13,729,342,329.87 respectively.
Interestingly, it was noted that the amount of foreign currency spent on failed contracts was more than double the $1bn loan that the National Assembly approved for borrowing to fight the insurgency in the North East.
"The committee also discovered that payments to the tune of Three Billion, Eight Hundred and Fifty Million Naira (N3,850,000,000.00) were made to a single company by the former NSA without documented evidence of contractual agreements or fulfilment of tax obligations to the FGN.
Further findings revealed that between March 2012 and March 2015, the erstwhile NSA, Lt Col MS Dasuki (rtd) awarded fictitious and phantom contracts to the tune of N2,219,188,609.50, $1,671,742,613.58 and €9,905,477.00. The contracts which were said to be for the purchase of 4 Alpha Jets, 12 helicopters, bombs and ammunition were not executed and the equipment were never supplied to the Nigerian Air Force, neither are they in its inventory.
Even more disturbing was the discovery that out of these figures, 2 companies, were awarded contracts to the tune of N350,000,000.00, $1,661,670,469.71 and €9,905,477.00 alone. This was without prejudice to the consistent non-performance of the companies in the previous contracts awarded. Additionally, it was discovered that the former NSA directed the Central Bank of Nigeria to transfer the sum of $132,050,486.97 and €9,905,473.55 to the accounts of Societe D’equipmente Internationaux in West Africa, United Kingdom and United States of America for un-ascertained purposes, without any contract documents to explain the transactions."
Am I shocked? Definitely no! The details only confirmed our suspicion. Once we commit funding to a sector without impact; it's certain officials are diverting the funds.
But my worry is actually how some persons would have peace and be comfortable when Nigeria loses territories and citizens to the rampaging Boko Haram terrorists, conscious of the fact that our terrtorial and humanitarian losses are functions of their actions. It beats me.
And when our own officials are sabotaging anti-terror efforts, what's the case against foreigners whom you accuse of not sympathizing with us? For the fact that the world has the knowledge how officials profit from disaster in Nigeria, we best can be seen as a filthy carcas before the global audience.
May all those responsible for Boko Haram never have peace again. B4 u judge base on sentiment just read this.
Posted: at 18-11-2015 07:03 PM (9 years ago) | Upcoming |
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