Senate Accuses Accountant General Of Illegally Withdrawing N665.8bn From Special Fund

Date: 30-07-2021 10:34 am (1 month ago) | Author: Giwa bayo
- at 30-07-2021 10:34 AM (1 month ago)
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The Accountant General of the Federation, Ahmed Idris has been accused by the Senate of illegally withdrawing N665.8 billion from Development of Natural Resources Fund and Stabilization Funds and giving it as loans to various government agencies.

The claim was made in a report by the Senate Committee on Public Accounts on the Federation Account which has been investigating expenditures of federal government agencies from 2015-2018 based on an audit report by the Auditor-General for the Federation.

The funds were alleged to have been withdrawn between 2004 and 2015 contrary to the established objectives of the fund. Report of the panel's six-month investigation on the Federation Account for the year 2015, was submitted before members of the red chamber went on their annual recess.

The Auditor General was quoted saying when responding to a query on depletion of Special Funds;

“Amount totaling N455.8 billion were withdrawn from Development of Natural Resources Fund as loans to various beneficiaries between 2004 and 2015, contrary to the established objectives of the fund.

“The purpose of the Development of Natural Resources Fund is to provide financial resources to develop alternative mineral resources to oil and gas. “Also, various amounts totaling N210.3 billion were withdrawn from Stabilization Fund as loans to various beneficiaries, between 2004 and 2015 contrary to the established objectives of the fund.

“The purpose of the Stabilization Fund is to provide for unforeseen contingencies and economic downturn and the beneficiaries are the 36 states and Federal Capital Territory (FCT). The stabilization fund belongs to three tiers of government.”


A breakdown of the beneficiaries of the funds showed that the entitlement of former President Goodluck Jonathan and Vice President, Namadi Sambo, which is about N1.5 billion, were paid on June 11, 2015, while the Independent National Electoral Commission (INEC) received about N20 billion from Development of Natural Resources Fund apart from the N17.9 billion it got from Brown Rice Levy, Comprehensive Import Supervision Scheme (CISS) Pool Levy and Rice Levy. The Accountant-General of the Federation has been directed to ensure refund of the monies within 60 days.


Posted: at 30-07-2021 10:34 AM (1 month ago) | Hero
- Nicelooking123 at 30-07-2021 10:48 AM (1 month ago)
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Look at what this Hush Ahmed Idris Puppi us doing with our commonwealth.  Another sensible fulani elder have stated that APC will totally destroy that country before 2023.
Posted: at 30-07-2021 10:48 AM (1 month ago) | Upcoming
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- Dangotenews2021 at 30-07-2021 02:18 PM (1 month ago)
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Breaking news this is to inform the general public that individual can now #buy dangote cement directly  from the factory at the rate  of 2000 Naira per bag and Rice for 19,000 naira per bag. call the marketing manager Mrs Aruna Grace on  (08034825434) or whatsapp Transportation and offloading is 300 Naira, minimum for purchase is from 100 bags and above.  we deliver nation wide only serious buyers should call. Note payment validate order.




Posted: at 30-07-2021 02:18 PM (1 month ago) | Newbie
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- taypetdun at 30-07-2021 02:31 PM (1 month ago)
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May be oga from above is aware of the withdrawal, so you no go do anything. That's  how the country will go down soon. The question now is where is the money and what did he do with it? EFCC is busy arresting young guys are striving to survive, National assembly should order EFCC to arrest Ahmed Idris, he is not above the law.
Posted: at 30-07-2021 02:31 PM (1 month ago) | Upcoming
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- Dopybadass at 30-07-2021 02:42 PM (1 month ago)
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Quote from: taypetdun on 30-07-2021 02:31 PM
May be oga from above is aware of the withdrawal, so you no go do anything. That's  how the country will go down soon. The question now is where is the money and what did he do with it? EFCC is busy arresting young guys are striving to survive, National assembly should order EFCC to arrest Ahmed Idris, he is not above the law.
EphyukSEXY will keep delaying to arrest Ahmed,na for yahoo boys una dey show power
Posted: at 30-07-2021 02:42 PM (1 month ago) | Upcoming
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- ttuswale at 30-07-2021 04:37 PM (1 month ago)
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ALL THIS HAUSA FULANI WILL FINISH THE TREASURY VERY SOON.
Posted: at 30-07-2021 04:37 PM (1 month ago) | Upcoming
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- ttuswale at 30-07-2021 04:37 PM (1 month ago)
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ALL THIS HAUSA FULANI WILL FINISH THE TREASURY VERY SOON.
Posted: at 30-07-2021 04:37 PM (1 month ago) | Upcoming
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