Trending News: WEAK NAIRA, GOOD, MANY PEOPLE CAN’T TRAVEL AGAIN – TINUBU’S AIDEPOPE OPENS HOLY DOORS TO KICK OFF SPECIAL JUBILEE YEAR BY GODBOKO HARAM TERRORISTS BOMB NIGERIAN ARMY BASE IN BORNO ON CHRISTMAS EVE, INJURE MANY SOLDIERSWIVES OF FORMER AFRICAN PRESIDENTS LAMENT DISRESPECT, NEGLECT AFTER HUSBANDS’ TENUREREDUCE FOOD PRICES, STRENGTH AGRICULTURE , CAN TELLS TINUBUI WAS SACKED, NOT REMOVED – EX-WOMEN AFFAIRS MINISTERFUBARA SHOWERS N100,000 CHRISTMAS BONUS TO RIVERS WORKERS, PENSIONERS2027 GOVERNORSHIP RACE HOTS UP IN RIVERS STATE: WILL APC PICK TONY OKOCHA?UNFULFILLED FEDERAL GOVT’S ECONOMIC PROMISES IN 2024POLICE ARREST ABUJA CATHOLIC PRIEST, CHURCH OFFICIALS OVER PALLIATIVE STAMPEDEALLEGED TRANSFORMER VANDAL ELECTROCUTED IN ENUGU COMMUNITYANNUAL REPORT: POLICE SAVED 1,581 ABDUCTED PERSONS IN 2024WE’RE ATTENTIVE TO CONCERNS OVER TAX REFORM BILLS – SENATE LEADER OPEYEMI BAMIDELENIGERIANS SUFFERING BECAUSE THEY CHOSE DARKNESS OVER LIGHT – BISHOP KUKAHENUGU GOVERNOR PETER MBAH SIGNS N791BN BUDGET INTO LAWMANY FEARED AS PASSENGER PLANE CARRYING 67 PEOPLE CRASHES ON CHRISTMAS DAYPROTEST ERUPTS IN SYRIA OVER BURNING OF CHRISTMAS TREESECURITY OPERATIVES KILL 32,000 CIVILIANS, EXTORTED N3TRN IN SOUTH EAST – REPORTMOST LAWYERS DON’T READ JUDGEMENT BEFORE ATTACKING JUDICIARY – WOLE OLANIPEKINTRANSPORT FARES, FOOD PRICES SOAR AS NIGERIANS CELEBRATE CHRISTMASPRESIDENCY HOLDS TECHNICAL WORKSHOP, ECONOMIC REVIEW IN ABUJAWIKE IS A GOOD MAN, I DOFF MY HAT FOR HIM – TINUBUI’LL REJECT ANY LAW OPPOSING NIGERIAN CONSTITUTION – GOVERNOR MAKINDE ON MOVES TO ESTABLISH SHARIA IN OYOLAWYERS’ DISCIPLINARY COMMITTEE REJECTS AFE BABALOLA REQUEST TO DEBAR DELE FAROTIMII’VE NEVER LIED AGAINST ANYBODY – DELE FAROTIMI INSISTS ON ALLEGATIONS AGAINST AFE BABALOLAIFEPED FELICITATES WITH ENUGU GOVERNOR, PETER MBAH, AT CHRISTMASIT TOOK THE PRESIDENT 18 MONTHS TO TALK TO NIGERIANS – RUFAI OSENI FIRES TINUBUHOW I’M FIGHTING CORRUPTION BY TINUBUFG TO ESTABLISH RANCHES IN LAGOS, OGUN, IMO, 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GENERALSCRIMINAL NEGLIGENCE, POVERTY LED TO STAMPEDES, DEATH OF 107 NIGERIANS – ASCABFUEL TO SELL N935 PER LITRE NATIONWIDE FROM MONDAY – IPMANGODWIN ABBE, FORMER MILITARY GOVERNOR, MINISTER DIES AT 74GRANT NIGERIA TEMPORARY PROTECTED STATUS, SPECIAL STUDENT RELIEF BEFORE TRUMP’S INAUGURATION – COALITION TO BIDENOUTRAGE AS OVER 75 NIGERIANS SCRAMBLING FOR FOOD DIE IN STAMPEDEMARKETERS IN SUSPENSE AS NNPCL, DANGOTE REFINERY LOWER PETROL PRICETINUBU’S WIFE GIVES 22,800 BAGS OF RICE TO NORTHERN CHRISTIANSPRESIDENT TINUBU WINS 2024 MAN OF THE YEAR AWARDFG TO REVIEW LAGOS-CALABAR COASTAL ROAD TO LOWER COST, REDUCE LANES TO SIXGOV MBAH INAUGURATES ORONTO INTERNATIONAL HOTELENUGU COMMUNITY WHERE ‘SETTLERS’ ARE DENIED RIGHTSPORT HARCOURT REFINERY NOT SHUT, FULLY OPERATIONAL – NNPCLLIKE DANGOTE REFINERY, NNPCL CUTS PETROL PRICE TO N899 PER LITREGOVERNOR NWIFURU AND HIS 107 SIBLINGSTINUBU CANCELS LAGOS EVENTS OVER STAMPEDE DEATHS AS IGP WARNS AGAINST UNORGANIZED DISTRIBUTION OF PALLIATIVESOYO, ABUJA, ANAMBRA STAMPEDES: SIGNS OF NIGERIA’S SYSTEMIC FAILURES – OBIWE’RE NOT OFFERING N25,000 CHRISTMAS GIFT – ABIA GOVT20 FEARED DEAD IN ANAMBRA COMMUNITY AS RICE DISTRIBUTION CAUSES STAMPEDEPETER OBI OFFERS TO MEET DELE FAROTIMI’S BAIL CONDITIONSWE’VE ACHIEVED 80% SUCCESS AGAINST KIDNAPPING – RIBADUTHERE’RE HONEST POLICE OFFICERS IN NIGERIAPH REFINERY SHUTS DOWN AGAIN AFTER $1.5BN REHABILITATIONNIGERIA’S MOBILE SUBSCRIPTIONS HIT 157.3 MILLION IN OCTOBER, MTN AIRTEL GAINJUBILATION AS FORMER KOGI GOV, YAHAYA BELLO, ACCUSED OF STEALING N110.4BN GOVT MONEY IS RELEASED ON BAILEKITI MAGISTRATE COURT CLAIMED RULING ON DELE FAROTIMI’S BAIL APPLICATION MISSINGSOARING COSTS, SHRINKING INCOME DAMPEN YULETIDE CELEBRATIONSWE BUDGETED N213BN FOR ROAD NOT N55BN – ENUGU GOVTHOW TINUBU’S N1B OFFER TO NASS MEMBERS AVERTED TAX REFORM BILLS SHOWDOWN DURING BUDGET PRESENTATIONNORTH IMPOVERISHED BY ITS POLITICAL LEADERS FOR OVER 40 YEARS – DOGARACOURT RESTORES SUSPENDED EDO LG CHAIRMENAPPEAL COURT FINES MTN N15 MILLION OVER UNSOLICITED MESSAGESCUSTOMS HAS NO RIGHT TO CONFISCATE FOREIGN RICE IN OPEN MARKET – COURT OF APPEALAT LAST, DELE FAROTIMI IS GRANTED BAILTINUBU REDEPLOYS 11 PERMANENT SECRETARIESHOW NIGERIAN SOLDIERS INVADED, DESTROYED MY RESIDENCE AT 2.30 AM, UCHE ANYA, ENUGU AGENCY BOSSENUGU GOVT MAPS OUT N146BN FOR EQUIPPING ITS SMART SCHOOLS IN 2025MARKETERS EXPECT CHEAPER PETROL AS DANGOTE CUTS PRICE TO N899.50/LITREDSS DIDN’T INVITE STATISTICIAN-GENERAL – NBSFG PLANS TO SLASH INFLATION FROM 34% TO 15% IN 2025KEMI BADENOCH AND THE NIGERIAN POLICE
Thu. Dec 26th, 2024
Trending News: WEAK NAIRA, GOOD, MANY PEOPLE CAN’T TRAVEL AGAIN – TINUBU’S AIDEPOPE OPENS HOLY DOORS TO KICK OFF SPECIAL JUBILEE YEAR BY GODBOKO HARAM TERRORISTS BOMB NIGERIAN ARMY BASE IN BORNO ON CHRISTMAS EVE, INJURE MANY SOLDIERSWIVES OF FORMER AFRICAN PRESIDENTS LAMENT DISRESPECT, NEGLECT AFTER HUSBANDS’ TENUREREDUCE FOOD PRICES, STRENGTH AGRICULTURE , CAN TELLS TINUBUI WAS SACKED, NOT REMOVED – EX-WOMEN AFFAIRS MINISTERFUBARA SHOWERS N100,000 CHRISTMAS BONUS TO RIVERS WORKERS, PENSIONERS2027 GOVERNORSHIP RACE HOTS UP IN RIVERS STATE: WILL APC PICK TONY OKOCHA?UNFULFILLED FEDERAL GOVT’S ECONOMIC PROMISES IN 2024POLICE ARREST ABUJA CATHOLIC PRIEST, CHURCH OFFICIALS OVER PALLIATIVE STAMPEDEALLEGED TRANSFORMER VANDAL ELECTROCUTED IN ENUGU COMMUNITYANNUAL REPORT: POLICE SAVED 1,581 ABDUCTED PERSONS IN 2024WE’RE ATTENTIVE TO CONCERNS OVER TAX REFORM BILLS – SENATE LEADER OPEYEMI BAMIDELENIGERIANS SUFFERING BECAUSE THEY CHOSE DARKNESS OVER LIGHT – BISHOP KUKAHENUGU GOVERNOR PETER MBAH SIGNS N791BN BUDGET INTO LAWMANY FEARED AS PASSENGER PLANE CARRYING 67 PEOPLE CRASHES ON CHRISTMAS DAYPROTEST ERUPTS IN SYRIA OVER BURNING OF CHRISTMAS TREESECURITY OPERATIVES KILL 32,000 CIVILIANS, EXTORTED N3TRN IN SOUTH EAST – REPORTMOST LAWYERS DON’T READ JUDGEMENT BEFORE ATTACKING JUDICIARY – WOLE OLANIPEKINTRANSPORT FARES, FOOD PRICES SOAR AS NIGERIANS CELEBRATE CHRISTMASPRESIDENCY HOLDS TECHNICAL WORKSHOP, ECONOMIC REVIEW IN ABUJAWIKE IS A GOOD MAN, I DOFF MY HAT FOR HIM – TINUBUI’LL REJECT ANY LAW OPPOSING NIGERIAN CONSTITUTION – GOVERNOR MAKINDE ON MOVES TO ESTABLISH SHARIA IN OYOLAWYERS’ DISCIPLINARY COMMITTEE REJECTS AFE BABALOLA REQUEST TO DEBAR DELE FAROTIMII’VE NEVER LIED AGAINST ANYBODY – DELE FAROTIMI INSISTS ON ALLEGATIONS AGAINST AFE BABALOLAIFEPED FELICITATES WITH ENUGU GOVERNOR, PETER MBAH, AT CHRISTMASIT TOOK THE PRESIDENT 18 MONTHS TO TALK TO NIGERIANS – RUFAI OSENI FIRES TINUBUHOW I’M FIGHTING CORRUPTION BY TINUBUFG TO ESTABLISH RANCHES IN LAGOS, OGUN, IMO, OTHERSENUGU FLAGS OFF TRAINING PROGRAMME FOR FARMERS ON LIVESTOCK PRODUCTIONDELE FAROTIMI REGAINS FREEDOM AFTER MEETING BAIL CONDITIONSSTAMPEDES: HUNGER TURNING TO EPIDEMIC IN – LABOUR PARTY KNOCKS TINUBU GOVTSTAMPEDES: I HAVE BEEN GIVING OUT PALLIATIVES IN BOURDILLON FOR PAST 25 YEARS WITHOUT ANY ISSUE – TINUBU BLAMES ORGANIZERSFG COMMITS N180BN TO AGRIC VARSITIES, RESEARCH INSTITUTES IN 2025GOVT HALTS INSTALLATION OF ‘EZE’ TITLE IN ENUGU COMMUNITYMTN, AIRTEL, 9MOBILE TO RAISE PRICES IN Q1 2025 AFTER NCC APPROVALN935/LITRE PETROL: LABOUR FAULTS NEW PRICE, DEMANDS FURTHER REDUCTIONARCHBISHOP’S WHEREABOUTS STILL UNKNOWN 19 DAYS AFTER ABDUCTIONHOW STAMPEDES EXPOSE NIGERIANS’ DEEP HUNGER ACCOMPANYING TINUBU’S REFORMSNNPC SLASHES PETROL PRICE TO N925/LITRE IN LAGOS, N965/LITRE IN ABUJAI’VE NO REGRET REMOVING FUEL SUBSIDY – TINUBUNO GOING BACK ON TAX REFORM – TINUBUSTAMPEDE DEATHS: STATES ROLL OUT TOUGH MEASURES FOR PALLIATIVE DISTRIBUTIONSWE CAN’T AFFORD TO GO HOME – NIGERIANS LAMENT OVER HIGH TRANSPORTATIONSPLIT IN APC DEEPENSEDO GOVT CHALLENGES TINUBU, SUPREME COURT ON SACKING OF LG CHAIRMENTINUBU’S TEAM UNCOORDINATED, SUFFERING ECONOMIC ILLITERACY – EX-PRESIDENTIAL CANDIDATEPOLICE DENY KILLING HUNGER PROTESTERS, DEMAND AMNESTY’S APOLOGYSOUTH EAST DEVELOPMENT COMMISSION: MUCH ADO ABOUT NOTHINGWHAT OBJ TOLD TINUBU: YOU’RE CONVERTING NIGERIA’S ASSETS TO PERSONAL PROPERTY – NIGERIA NOT LAGOSUNN CONFERS ON GOVERNOR PETER MBAH DOCTOR OF LAWS DEGREEPETROL SELLS N935 PER LITRE FROM TODAY – IPMANPOLICE CONFIRM ARREST OF ‘JUJU’ CHIEF PRIEST OVER MURDER OF FRIENDWHY TINUBU IS DELAYING AMBASSADORIAL APPOINTMENTFG APPROVES RECRUITMENT OF 3,927 OFFICERS IN CUSTOMSWHY TINUBU IS ON FREQUENT FOREIGN TRIPS – PRESIDENCY2025 BUDGET CAN’T ADDRESS NIGERIA’S ECONOMIC CHALLENGES – ATIKU ABUBAKARSTOP THIS ARROGANCE OF POWER, TAX REFORMS MUST CONTINUE – EDWIN CLARK TELLS NORTHERN GOVERNORSDON’T LINK TINUBU’S ECONOMIC REFORMS TO STAMPEDE DEATHS – MINISTERNIGERIAN ARMY PROMOTES 108 GENERALSCRIMINAL NEGLIGENCE, POVERTY LED TO STAMPEDES, DEATH OF 107 NIGERIANS – ASCABFUEL TO SELL N935 PER LITRE NATIONWIDE FROM MONDAY – IPMANGODWIN ABBE, FORMER MILITARY GOVERNOR, MINISTER DIES AT 74GRANT NIGERIA TEMPORARY PROTECTED STATUS, SPECIAL STUDENT RELIEF BEFORE TRUMP’S INAUGURATION – COALITION TO BIDENOUTRAGE AS OVER 75 NIGERIANS SCRAMBLING FOR FOOD DIE IN STAMPEDEMARKETERS IN SUSPENSE AS NNPCL, DANGOTE REFINERY LOWER PETROL PRICETINUBU’S WIFE GIVES 22,800 BAGS OF RICE TO NORTHERN CHRISTIANSPRESIDENT TINUBU WINS 2024 MAN OF THE YEAR AWARDFG TO REVIEW LAGOS-CALABAR COASTAL ROAD TO LOWER COST, REDUCE LANES TO SIXGOV MBAH INAUGURATES ORONTO INTERNATIONAL HOTELENUGU COMMUNITY WHERE ‘SETTLERS’ ARE DENIED RIGHTSPORT HARCOURT REFINERY NOT SHUT, FULLY OPERATIONAL – NNPCLLIKE DANGOTE REFINERY, NNPCL CUTS PETROL PRICE TO N899 PER LITREGOVERNOR NWIFURU AND HIS 107 SIBLINGSTINUBU CANCELS LAGOS EVENTS OVER STAMPEDE DEATHS AS IGP WARNS AGAINST UNORGANIZED DISTRIBUTION OF PALLIATIVESOYO, ABUJA, ANAMBRA STAMPEDES: SIGNS OF NIGERIA’S SYSTEMIC FAILURES – OBIWE’RE NOT OFFERING N25,000 CHRISTMAS GIFT – ABIA GOVT20 FEARED DEAD IN ANAMBRA COMMUNITY AS RICE DISTRIBUTION CAUSES STAMPEDEPETER OBI OFFERS TO MEET DELE FAROTIMI’S BAIL CONDITIONSWE’VE ACHIEVED 80% SUCCESS AGAINST KIDNAPPING – RIBADUTHERE’RE HONEST POLICE OFFICERS IN NIGERIAPH REFINERY SHUTS DOWN AGAIN AFTER $1.5BN REHABILITATIONNIGERIA’S MOBILE SUBSCRIPTIONS HIT 157.3 MILLION IN OCTOBER, MTN AIRTEL GAINJUBILATION AS FORMER KOGI GOV, YAHAYA BELLO, ACCUSED OF STEALING N110.4BN GOVT MONEY IS RELEASED ON BAILEKITI MAGISTRATE COURT CLAIMED RULING ON DELE FAROTIMI’S BAIL APPLICATION MISSINGSOARING COSTS, SHRINKING INCOME DAMPEN YULETIDE CELEBRATIONSWE BUDGETED N213BN FOR ROAD NOT N55BN – ENUGU GOVTHOW TINUBU’S N1B OFFER TO NASS MEMBERS AVERTED TAX REFORM BILLS SHOWDOWN DURING BUDGET PRESENTATIONNORTH IMPOVERISHED BY ITS POLITICAL LEADERS FOR OVER 40 YEARS – DOGARACOURT RESTORES SUSPENDED EDO LG CHAIRMENAPPEAL COURT FINES MTN N15 MILLION OVER UNSOLICITED MESSAGESCUSTOMS HAS NO RIGHT TO CONFISCATE FOREIGN RICE IN OPEN MARKET – COURT OF APPEALAT LAST, DELE FAROTIMI IS GRANTED BAILTINUBU REDEPLOYS 11 PERMANENT SECRETARIESHOW NIGERIAN SOLDIERS INVADED, DESTROYED MY RESIDENCE AT 2.30 AM, UCHE ANYA, ENUGU AGENCY BOSSENUGU GOVT MAPS OUT N146BN FOR EQUIPPING ITS SMART SCHOOLS IN 2025MARKETERS EXPECT CHEAPER PETROL AS DANGOTE CUTS PRICE TO N899.50/LITREDSS DIDN’T INVITE STATISTICIAN-GENERAL – NBSFG PLANS TO SLASH INFLATION FROM 34% TO 15% IN 2025KEMI BADENOCH AND THE NIGERIAN POLICE
Thu. Dec 26th, 2024

AUDITOR GENERAL OF THE FEDERATION UNCOVERS N197.72B FRAUD IN CBN, OTHER MDAS

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AUDITOR GENERAL OF THE FEDERATION UNCOVERS ₦197.72B FRAUD IN CBN, OTHER MIDAS

Office of Nigeria’s Auditor-General of the Federation has uncovered irregular payment for contracts amounting to N197.72 billion in Rural Electrification Agency agencies, Nigerian Bulk Electricity Trading Plc, a subsidiary of Central Bank of Nigeria, the Nigerian Security Printing and Minting Company and other ministries, departments, and agencies in the country.
The details of the findings were disclosed in the Auditor-General’s Annual Report on Non-Compliance and Internal Control Weaknesses, covering activities between 2020 and 2021.
These violations include irregular payment for contracts, and payment for jobs partially executed or not executed at all, contravening the country’s financial regulations and procurement laws.
Specifically, N7.386 billion was the amount of irregularities in the award of contracts by 32 MDAs.
REA topped the chart with N2.12 billion while NSPM recorded the least with N11.7 million.
“The sum of N7,386,551,051.09 (seven billion, three hundred and eighty-six million, five hundred and fifty-one thousand, fifty-one naira, nine kobos) was the number of irregularities in the award of contracts by 32 ministries, departments and agencies.
“The Rural Electrification Agency, Abuja, has the highest amount of N2,117,143,168.09 (two billion, one hundred and seventeen million, one hundred and three thousand, one hundred and sixty-eight naira, nine kobo), while the Nigerian Security Printing and Minting Company Plc (NSPM) has the least amount of N11,720,000 (Eleven million, seven hundred and twenty thousand,” the report indicated.
The worst revelation of the report showed that the sum of N167.59 billion was paid for jobs or contracts that were either partially executed or not executed at all. This contravenes Paragraph 708 of the Financial Regulations, which prohibits payments for services or goods not yet delivered.
In this aspect, the Nigerian Bulk Electricity Trading Plc, an agency in the country’s power sector accounted for N100 billion of these irregular payments, making it the highest in this category. Meanwhile National Centre for Women Development recorded the lowest irregularity at N2.17 million.
The report read, “The sum of N167,592,177,559.40 (one hundred and sixty-seven billion, five hundred and ninety-two million, one hundred and seventy-seven thousand, five hundred and fifty-nine naira, forty kobos) was the number of payments for jobs/contracts not executed by 31 ministries, departments and agencies.
“The Nigerian Bulk Electricity Trading Plc., Abuja, has the highest amount of N100,000,000,000.00 (one hundred billion naira), while the National Centre for Women Development has the least amount of N2,171,766.44 (two million, one hundred and seventy-one thousand, seven hundred and sixty-six naira, forty-four kobo).”
Similarly, the report also uncovered violations of due process in contract awards amounting to N20.33 billion across 24 MDAs.
The violations are against Section 16(21) of the Public Procurement Act (PPA) 2007 which requires strict adherence to procurement plans and mandatory approvals before contract awards. Meanwhile, the audit report found that these requirements were often ignored or violated. The report showed that NSPM, a subsidiary of CBN was responsible for the highest amount of due process violations, totaling N14.14 billion, while the Corporate Affairs Commission had the least, at N8.98 million.
“The sum of N20,334,104,016.27 (twenty billion, three hundred and thirty-four million, one hundred and four thousand, sixteen nairas, twenty-seven kobo) was the number of contracts awarded in violation of due process by 24 ministries, departments and agencies.
The Nigerian Security Printing and Minting Company Plc Abuja has the highest amount of N14,136,472,333.16 (fourteen billion, one hundred and thirty-six million, four hundred and seventy-two thousand, three hundred and thirty-three naira, sixteen kobos) while the Corporate Affairs Commission has the least amount of N8,980,603.72 (eight million, nine hundred and eighty thousand, six hundred and three naira, seventy-two kobo),” it added.
Financial corruption has been the bane of Nigeria’s problem. In July 2024, the National Bureau of Statistics’s corruption survey report showed that Nigerians paid N721 billion as bribes to public officials in 2023.

    • Dons Eze

    DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.

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