Trending News: AUDITOR GENERAL OF THE FEDERATION UNCOVERS N197.72B FRAUD IN CBN, OTHER MDAS1.5M ENUGU LG WORKERS GROAN OVER WITHHELD SALARIES AFTER VERIFICATION EXERCISEENUGU SHINES AT UK BUSINESS FORUMWHY NIGERIANS ARE GETTING POORER BY DELE SABOWALEENUGU RESIDENTS GROAN AS RESIDENTS RESORT TO TREKKINGNGO HOLDS TOWN HALL MEETING FOR SOUTH EAST JOURNALISTSCONCERN OVER PUTIN’S HEALTH, HAS NOT BEEN SEEN FOR TWO WEEKSHOW NIGERIAN LEADERS BECAME PRESIDENT BY ACCIDENT, NOT PREPARED FOR THE JOB – KUKAHWIKE ORDERS DISSOLUTION OF SPECIAL COURT OF APPEAL THAT GAVE FAVOURABLE JUDGEMENT ON RIVERS STATE LGA ELECTIONS – SAHARAREPORTERSOLDEST CATHOLIC PRIEST IN NIGERIA DIES AT 104, OBASEKI MOURNSPRESIDENCY LOBBIES NATIONAL ASSEMBLY OVER TAX REFORM BILLSDANGOTE REFINERY NOW SELLS FUEL AT N970/LITREFOUR FACTS THAT MAKE SOUTH AFRICA THE TRUE GIANT OF AFRICAENUGU GOVT GIVES DECEMBER DEADLINE FOR COMMENCEMENT OF COAL MINING OPERATIONSSENATE PRESIDENT AKPABIO, PRAISES THE IGBO FOR INDUSTRY, SELF-RELIANCESINS OF SIMON EKPA, SO-CALLED PRIME MINISTER OF BIAFRA IN EXILEYAHAYA BELLO BETRAYED BY TRUST, REDEEMED BY CHOICE BY ABDUL MOHAMMED LAWALHUNGER IN THE LAND: THIEVES INVADE CHURCH, STEAL HARVEST COWSTHERE’S CONSPIRACY AGAINST ME – DANIEL BWALAPDP GOVERNORS GIVE DAMAGUM, NWC THREE MONTHS TO CALL NEC MEETINGNIGERIANS CALL FOR REUBEN ABATI’S SACK OVER BIGOTRY REMARKS AGAINST THE IGBO140 YEARS AFTER THE BERLIN WEST AFRICA CONFERENCE BY CHIDI ANSELM ODINKALU & CHEPKORIR SAMBUPOLICE INVADE NATIVE DOCTOR’S SHRINE IN ANAMBRA ARREST TWO SUSPECTS FOR KIDNAPPINGFROM ENUGU TO OXFORD, INSPIRING STORY OF NIGERIA’S FIRST-CLASS GRADUATENNPC DIRECTS MARKETERS TO STOP PETROL IMPORTS, CITES DANGOTE REFINERY CAPACITYANGRY RESIDENTS SET TWO REVENUE AGENTS ABLAZE IN ANAMBRA FOR CAUSING MAN’S DEATHAS SIMON EKPA COMES TO JUDGEMENTNIGERIANS IN FINLAND PANIC OVER ARREST, DETENTION OF SIMON EKPAWIKE VS FUBARA: FG BACKTRACTS, SAYS FAAC ALLOCATION TO RIVERS NOT STOPPEDHARDSHIP: MANY NIGERIAN HOUSEHOLDS 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REMOVES VCOUR NEW GENERATION OF CHILDRENEX-PRESIDENTIAL AIDE BERATES FG OVER CONTINUOUS KILLINGS IN SOUTH EASTUMAR DAMANGUN, PDP ACTING NATIONAL CHAIRMAN, PLANS TO REMAIN IN OFFICE TILL NEXT YEAREIGHT NIGERIAN BANKS WITH HIGHEST CUSTOMER DEPOSITS IN 2024OTTI EXONERATES IPOB FROM GUNMEN ATTACKS, ACCUSES OPPOSITION POLITICIANSREPS WILL PASS TAX REFORM BILLS WITH MINOR MODIFICATIONS – DEPUTY SPOKESMANNORTHERN, SOUTHERN LAWMAKERS PREPARE TO SQUARE EACH OTHER AGAINST TINUBU’S TAX REFORM BILLSNIGERIA’S DEBT TO IDA HITS $17B – REPORTCONTROVERSY TRAILS TINUBU’S MEDIA TEAMHOW BRITAIN MASSACRED ORIGINAL IGBO NAMES AHEAD OF INDEPENDENCEONE-BED FLAT IN TINUBU’S RENEWED HOPE ESTATE NOW N22MWIKE RIGHT BUILDING HOUSES FOR JUDGES, SENIOR LAWYER, CARPETS FALANABROOM USED ON AJURI NGELARE IS BEING USED ON DANIEL BWALA – ATIKU’S AIDERETHINK REFORM STRATEGIES, IMF ADVISES TINUBU GOVTPRESIDENCY DOWNGRADES DANIEL BWALA AS ROLE AFTER HE DECLARED HIMSELF TINUBU’S SPOKESMANPETROL PRICE CUT MAY FORCE NIGERIA’S INFLATIONARY PRESSURES DOWN – ECONOMISTNORTHERN REPS RAISE FRESH CONCERNS OVER TAX REFORM BILLSTAX REFORM BILLS: GOVS THREATENING TO DENY US RETURN TICKETS – REPS DEPUTY SPOKESMANNIGERIAN FAMILY DEMANDS JUSTICE FOR DOCTOR WHO DIED IN JORDAN, CRIES TO WHOINSIDE STORY OF ALLEGED JUDICIAL CORRUPTION IN NIGERIA, BY JUSTICE DATTIJO MOHAMMEDNERC WARNS AGAINST MAKING CUSTOMERS FUND REPLACEMENT OF FAULTY METERSOBASANJO NOT AN IDEAL LEADER TO EMULATE – BAYO ONANUGAWE’VE NOT TAKEN ANY POSITION ON TAX REFORM BILL – ABBASPETER OBI COMMENDS CHIDIMMA ADETSHINA ON MISS UNIVERSE CONTESTOBASANJO, IMF SLAM TINUBU GOVT, PRESIDENCY KEEP MUMGOD IS WATCHING YOU – CARDINAL ONAIYEKAN TELLS TINUBU TO SHUN NEPOTISMLAGOS WANTS TO COLONIZE NORTH WITH TAX REFORM BILL – KWANKWASOFIVE FEARED KILLED AS SIT-AT-HOME ENFORCERS ATTACK ANAMBRA COMMUNITIESPETROL PRICE DROPS: DANGOTE, IPMAN SIGN 60M LITRES FUEL WEEKLY DEALBART NNAJI SETS UP ROBOTICS, ARTIFICIAL INTELLIGENCE INSTITUTE IN NIGERIANIGERIANS BACK NJC ON SANCTIONING OF ERRING JUDGES, DEMAND MORENNPC CONTINUES IMPORTING PETROL, DIESEL AMID DANGOTE REFINERY SURPLUSESSACK MAHMOOD YAKUBU, OTHER OFFICIALS OF INEC AT FEDERAL, STATES – OBASANJOONDO GOVERNORSHIP ELECTION: WE TARGET ALL SOUTH WEST STATES – GANDUJE, APC NATIONAL CHAIRMANSOME INDIVIDUALS SABOTAGING FG’S WAR AGAINST INSURGENCY – CDSMISS UNIVERSE FIRST RUNNER UP, CHIDINMA ADETSHINA, THANKS NIGERIANS: AT MY LOWEST, YOU PICKED ME UPENUGU FIRM FINGERED AS WORLD BANK DETECTS $32M WATER PROJECT FRAUDPDP BLASTS EBONYI GOVERNOR FOR SPENDING BILLIONS OF NAIRA WELCOMING TINUBU’S WIFE, ON FRIVOLOUS PROJECTS
Mon. Nov 25th, 2024
Trending News: AUDITOR GENERAL OF THE FEDERATION UNCOVERS N197.72B FRAUD IN CBN, OTHER MDAS1.5M ENUGU LG WORKERS GROAN OVER WITHHELD SALARIES AFTER VERIFICATION EXERCISEENUGU SHINES AT UK BUSINESS FORUMWHY NIGERIANS ARE GETTING POORER BY DELE SABOWALEENUGU RESIDENTS GROAN AS RESIDENTS RESORT TO TREKKINGNGO HOLDS TOWN HALL MEETING FOR SOUTH EAST JOURNALISTSCONCERN OVER PUTIN’S HEALTH, HAS NOT BEEN SEEN FOR TWO WEEKSHOW NIGERIAN LEADERS BECAME PRESIDENT BY ACCIDENT, NOT PREPARED FOR THE JOB – KUKAHWIKE ORDERS DISSOLUTION OF SPECIAL COURT OF APPEAL THAT GAVE FAVOURABLE JUDGEMENT ON RIVERS STATE LGA ELECTIONS – SAHARAREPORTERSOLDEST CATHOLIC PRIEST IN NIGERIA DIES AT 104, OBASEKI MOURNSPRESIDENCY LOBBIES NATIONAL ASSEMBLY OVER TAX REFORM BILLSDANGOTE REFINERY NOW SELLS FUEL AT N970/LITREFOUR FACTS THAT MAKE SOUTH AFRICA THE TRUE GIANT OF AFRICAENUGU GOVT GIVES DECEMBER DEADLINE FOR COMMENCEMENT OF COAL MINING OPERATIONSSENATE PRESIDENT AKPABIO, PRAISES THE IGBO FOR INDUSTRY, 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NOW SKIP MEALSSEYI TINUBU NOT FIT TO BE GOVERNOR OF LAGOS STATE – JOE IGBOKWEOUR DIPLOMATIC PRESSURE ON FINLAND IS WHY SIMON EKPA WAS ARRESTED – FGTHE MEN AROUND TINUBUFUBARA CHALLENGES STOPPING FEDERAL ALLOCATION IN COURTARMED THUGS ALLEGEDLY SPONSORED BY TINUBU ASSOCIATE MC OLUOMO ATTACK NUJ SECRETARIAT IN ABUJABREAKING: FG STOPS OCTOBER FAAC REVENUE TO RIVERS STATEOHANAEZE CELEBRATES SIMON EKPA’S ARREST, SAYS IT’S HUGE RELIEFNORTH CENTRAL KICKS AS PDP POSTPONES NEC MEETINGIPOB DISOWNS SIMON EKPA, SAYS HE’S NOT ITS MEMBERI DIDN’T EXCHANGE BLOWS WITH AKPABIO – SENATE LEADER, OPEYEMIWHITE HOUSE REJECTS ICC ARREST WARRANTS FOR NETANYAHU, GALLANTFOR ME, NO MORE BEAUTY CONTEST – CHIDIMMA ADETSHINAOBASANJO’S KNOCK ON INEC REOPENS PUSH FOR ELECTORAL REFORMJAPA: ONE OUT OF EVERY FOUR NIGERIANS WANTS TO LEAVE – NBSNIGERIANS MORE POLARIZED THAN EVER AFTER 2023 ELECTION, TINUBU’S UNPOPULAR REFORMS – REPORTIT’S TIME TO END YOUR 31-YEAR-LONG PRESIDENTIAL AMBITION – BODE GEORGE TELLS ATIKUSIMON EKPA WILL BE EXTRADITED TO NIGERIA – DEFENCE HEADQUARTERSHOUSE OF REPS REJECTS BILL SEEKING SIX YEARS SINGLE TENURE FOR PRESIDENT, GOVERNORSFINLAND COURT REMANDS SIMON EKPA FOR INCITING TERROR IN NIGERIARUSSIAN INVASION OF UKRAINE SHAMEFUL DISASTER FOR HUMANITY – POPE FRANCISNEW MANAGEMENT TAKES OVER UK VISA APPLICATION CENTRES IN NIGERIAPETER OBI VISITS MARY AGRO FARMS ENUGU STATE, DONATES N20MSIMON EKPA DON LAND FOR TROUBLE, ARRESTED IN FINLAND – BBC PIGINYOU STABBED US AT THE BACK, YOU HUMILIATED US – APC CHIEFTAIN FUMES OVER DANIEL BWALA’S APPOINTMENT BY TINUBUYOU’RE UNSTABLE, FOCUS ON WHEREABOUTS OF YOUR IMPORTED WIFE – ATIKU KNOCKS OSHIOMHOLENORTH WILL BE BEST SERVED BY NORTHERNERS – ACFSTATE GOVERNORS MEET OVER EXCESS CRUDE ACCOUNTCOURT REFUSES INJUNCTION TO STOP NUJ ELECTIONCOURT ORDERS ENUGU GOVT TO PAY MAN N55M OVER ILLEGAL DEMOLITION OF SHOPSVAT GENERATED IN STATES ACROSS NIGERIA (AUGUST 2024)SENATE SACKS CCT CHAIRMAN, DANLADI UMARTINUBU SACKS UNIZIK GOVERNING COUNCIL, REMOVES VCOUR NEW GENERATION OF CHILDRENEX-PRESIDENTIAL AIDE BERATES FG OVER CONTINUOUS KILLINGS IN SOUTH EASTUMAR DAMANGUN, PDP ACTING NATIONAL CHAIRMAN, PLANS TO REMAIN IN OFFICE TILL NEXT YEAREIGHT NIGERIAN BANKS WITH HIGHEST CUSTOMER DEPOSITS IN 2024OTTI EXONERATES IPOB FROM GUNMEN ATTACKS, ACCUSES OPPOSITION POLITICIANSREPS WILL PASS TAX REFORM BILLS WITH MINOR MODIFICATIONS – DEPUTY SPOKESMANNORTHERN, SOUTHERN LAWMAKERS PREPARE TO SQUARE EACH OTHER AGAINST TINUBU’S TAX REFORM BILLSNIGERIA’S DEBT TO IDA HITS $17B – REPORTCONTROVERSY TRAILS TINUBU’S MEDIA TEAMHOW BRITAIN MASSACRED ORIGINAL IGBO NAMES AHEAD OF INDEPENDENCEONE-BED FLAT IN TINUBU’S RENEWED HOPE ESTATE NOW N22MWIKE RIGHT BUILDING HOUSES FOR JUDGES, SENIOR LAWYER, CARPETS FALANABROOM USED ON AJURI NGELARE IS BEING USED ON DANIEL BWALA – ATIKU’S AIDERETHINK REFORM STRATEGIES, IMF ADVISES TINUBU GOVTPRESIDENCY DOWNGRADES DANIEL BWALA AS ROLE AFTER HE DECLARED HIMSELF TINUBU’S SPOKESMANPETROL PRICE CUT MAY FORCE NIGERIA’S INFLATIONARY PRESSURES DOWN – ECONOMISTNORTHERN REPS RAISE FRESH CONCERNS OVER TAX REFORM BILLSTAX REFORM BILLS: GOVS THREATENING TO DENY US RETURN TICKETS – REPS DEPUTY SPOKESMANNIGERIAN FAMILY DEMANDS JUSTICE FOR DOCTOR WHO DIED IN JORDAN, CRIES TO WHOINSIDE STORY OF ALLEGED JUDICIAL CORRUPTION IN NIGERIA, BY JUSTICE DATTIJO MOHAMMEDNERC WARNS AGAINST MAKING CUSTOMERS FUND REPLACEMENT OF FAULTY METERSOBASANJO NOT AN IDEAL LEADER TO EMULATE – BAYO ONANUGAWE’VE NOT TAKEN ANY POSITION ON TAX REFORM BILL – ABBASPETER OBI COMMENDS CHIDIMMA ADETSHINA ON MISS UNIVERSE CONTESTOBASANJO, IMF SLAM TINUBU GOVT, PRESIDENCY KEEP MUMGOD IS WATCHING YOU – CARDINAL ONAIYEKAN TELLS TINUBU TO SHUN NEPOTISMLAGOS WANTS TO COLONIZE NORTH WITH TAX REFORM BILL – KWANKWASOFIVE FEARED KILLED AS SIT-AT-HOME ENFORCERS ATTACK ANAMBRA COMMUNITIESPETROL PRICE DROPS: DANGOTE, IPMAN SIGN 60M LITRES FUEL WEEKLY DEALBART NNAJI SETS UP ROBOTICS, ARTIFICIAL INTELLIGENCE INSTITUTE IN NIGERIANIGERIANS BACK NJC ON SANCTIONING OF ERRING JUDGES, DEMAND MORENNPC CONTINUES IMPORTING PETROL, DIESEL AMID DANGOTE REFINERY SURPLUSESSACK MAHMOOD YAKUBU, OTHER OFFICIALS OF INEC AT FEDERAL, STATES – OBASANJOONDO GOVERNORSHIP ELECTION: WE TARGET ALL SOUTH WEST STATES – GANDUJE, APC NATIONAL CHAIRMANSOME INDIVIDUALS SABOTAGING FG’S WAR AGAINST INSURGENCY – CDSMISS UNIVERSE FIRST RUNNER UP, CHIDINMA ADETSHINA, THANKS NIGERIANS: AT MY LOWEST, YOU PICKED ME UPENUGU FIRM FINGERED AS WORLD BANK DETECTS $32M WATER PROJECT FRAUDPDP BLASTS EBONYI GOVERNOR FOR SPENDING BILLIONS OF NAIRA WELCOMING TINUBU’S WIFE, ON FRIVOLOUS PROJECTS
Mon. Nov 25th, 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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