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IT’S MISLEADING CLAIMS, WE’RE PRODUCING – NNPCENUGU TO LAUNCH AIRLINE AS GOV MBAH PRESENTS N971.8B FOR 2025WILL PRICE OF PETROL DROP?, NIGERIANS ASK AS PORT HARCOURT REFINERY BEGINS OPERATIONBREAKING: EFCC ARRESTS YAHAYA BELLOEBONYI GOVERNOR, NWIFURU, SUSPENDS TWO COMMISSIONERS, OTHERSPORT HARCOURT, WARRI, KADUNA REFINERIES TO BE PRIVATIZED – PRESIDENCYEND OF DARK TUNNEL: PORT HARCOURT REFINERY COMMENCES CRUDE OIL PROCESSINGOPEN LETTER TO SOUTHEAST SENATORS, HONOURABLE MEMBERS OF HOUSE OF REPRESENTATIVES, OHANAEZE YOUTH COUNCILNIGERIA WOULD HAVE BEEN BETTER UNDER PETER OBI – ABARIBEWHY NIGERIANS ARE POORER AMID GDP GROWTH -ECONOMISTSZAMANI LEKWOT: HOLDING JUDICIAL, MILITARY TERRORISM TO JUSTICE, BY OWEI LAKEMFAYOU FAILED TO SUPPORT, PARTICIPATE IN IFEANYI UBA’S BURIAL – FAMILY ACCUSES SENATENIGERIAN ARMY COMPLAINS ABOUT DWINDLING RESOURCESSENATORS KNOCK TINUBU’S GOVT OVER BORROWING DESPITE EXCEEDING REVENUE PROJECTIONSTHEY SAY THEY WANT BIAFRA, YET THEY KILL, KIDNAP THEIR BROTHERS – BISHOP LAMENTS OVER KILLINGS IN SOUTH EASTAUDITOR 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 GRADUATE
Mon. Dec 2nd, 2024
Trending News: TRUMP APPOINTS NIGERIA-LEBANESE BUSINESSMAN ADVISOR ON ARAB MIDDLE EASTERN AFFAIRS2027: ATIKU, OBI’S PARLEY IN YOLA REIGNITES MERGER PERMUTATIONSPH REFINERY STILL OPERATING – ENGINEERS CLAIMCOURT STOPS UNN FOR CONDUCTING CONVOCATION ELECTIONGOWON, OJUKWU NEVER RECONCILED – ONOHNIGERIANS LIVING FAKE GOOD LIFE’ PRIOR TO REMOVAL OF OIL SUBSIDY – TINUBUYET-TO-BE IDENTIFIED CATHOLIC PRIEST KIDNAPPED IN ENUGUFEDERAL PENSIONERS PLAN PROTEST OVER N32,000 INCREMENTMAN LOSES WIFE, DAUGHTER IN CKC ABA STAMPEDEOBASANJO DISOWNS GOWON, SAYS HE NEVER KNEW HE TOLD ABACHA NOT TO KILL HIMA HISTORY OF ZIONIST ATROCITIES, BY FEMI FANI-KAYODECHIDIOKA ACCUSES INEC OF ELECTION RIGGING, QUITS PDPWE’RE NOT PART OF BIAFRA DECLARATION IN FINLAND – IPOBATIKU, OBI PLAY DOWN 2027 AMBITION, SAY WE’RE FRIENDSNIGERIANS TO PAY MORE FOR MTN, GLO, AIRTEL FROM DEC 13PH REFINERY SHUTS DOWN TEMPORARILYSIMON EKPA NOT BAILABLE, FOLLOWERS DECLARE UNITED STATES OF BIAFRA IN FINLANDATIKU, OBI, EL RUFAI PLAN ALLIANCE AHEAD OF 2027NIGERIA, FRANCE SIGN 300M EURO AGREEMENT ON AGRICULTURE, FOOD SECURITYPH REFINERY HALTS OPERATIONS, LOADING BAY EMPTYNLC DIRECTS WORKERS IN 13 STATES TO PROCEED ON STRIKE FROM MONDAYREACTIONS TRAIL SEYI TINUBU’S ENDORSEMENT AS LAGOS GOVERNOR FOR 2027WHY NIGERIA NEEDS TAX REFORM, BY OYEDELEPH REFINERY: NNPCL WILL FURTHER SLASH PMS PRICE – PETROANNO GOING BACK ON NIGERIA’S ECONOMIC REFORMS, TINUBU TELLS FRENCH PRESIDENT, MACRONTINUBU ASSURES OKONJO-IWEALA OF NIGERIA’S SUPPORT ON REAPPOINTMENT AS WTO DIRECTOR GENERALGUSAU UNIVERSITY CONFIRMS ODOH’S PROFESSORSHIP STATUSFIT GROUP TO CONSTRUCT HILTON GARDEN INN IN ENUGUWTO REAPPOINTS NGOZI OKONJO-IWEALA AS DIRECTOR GENERALPETROL PRODUCTION: CONTROVERSY SURROUNDS PH REFINERY, NNPCLMISUSE OF SOCIAL MEDIA FUELS INSECURITY – ARMY ALLEGESFG COMPLETES PH-ABA RAILWAY SECTION, HANDS IT OVER TO NRCPROF AZINGE RECEIVES STAFF OF OFFICE AS 14TH ASAGBA OF ASABAIMO STATE REELS UNDER DEBT: OWES N43B TO CONTRACTORS, N163B DOMESTIC BORROWING, N70B TO CBNENUGU RETIREES LANGUISH AS GOVERNOR MBAH OWES OVER N26.8B IN PENSIONS, GRATUITIESPROF UCHE LUCY ONYEKWELU EMERGIES VICE CHANCELLOR, LUX MUNDI UNIVERSITYTAX REFORM BILLS PASS SECOND READING IN SENATE AS HOUSE OF REPS GOES INTO EXECUTIVE SESSIONHOW POLICE KILLED 24 #ENDBADGOVERNANCE PROTESTERS, DETAINED OVER 1200 OTHERS, INCLUDING MINORS – AMNESTY INTERNATIONALTAX REFORM BILLS: NIGERIANS EARNING BELOW N1M EXEMPTEDNIGERIA TO CONDUCT NATIONAL CENSUS IN 2025WIKE, FUBARA ACCUMULATE HUGE DEBTS FOR RIVERS GOVTIBB, ORTOM, TAMBUWAL TOP LIST OF PUBLISHED LAND TITLE DEBTORS200 TRUCKS LOAD 150,000BP DAILY AT PH REFINERY, ELEME PLANT DORMANTFINISH COURT FIXES MAY 2025 DATE AS SIMON EKPA’S TRIALSACKED VC SUES GUSAU UNIVERSITY FOR DENYING HIS PROFESSORSHIPNIGERIANS MORE LOYAL TO ETHNIC GROUPS, THAN NIGERIA – GOODLUCK JONATHANVAT: LAGOS GETS 17%, IMO – 1.716%MAN KILLS MOTHER, GRANDMOTHER, SISTER AND CHILD FOR MONEY RITUAL IN ENGLISH COMMUNITYNORTH MUST NOT TEAR NIGERIA APART – GOWONPH REFINERY WILL CRASH FUEL PRICE, CREATE JOBS – IPMAN, PETRAONSOUTHEAST STAKEHOLDERS WANT NNAMDI KANU RELEASED, SIMON EKPA JAILEDSUPREME GIVES FINAL VERDICT ON AUTHENTIC APGA NATIONAL CHAIRMANOUR MARKETERS PAID N1,045/LITRE FOR PH REFINERY’S PETROL, SAYS PETROANUPROAR IN SENATE OVER TINUBU”S TAX REFORM BILLSEBONYI GOVT APPROVES PRIVATIZATION OF MEDIA OUTFITSYAHAYA CREATES SCENE AS JUDGE ANGRILY LEAVES COURTROOMPH REFINERY OPERATING AT 70% CAPACITY, TO BLEND 1.4M LITRES OF PETROL PER DAYAHEAD OF 2027, ATIKU, OBI MULL NEW POLITICAL PARTYTINUBU WILL RELEASE NNAMDI KANU – BIANCA OJUKWUOBASANJO LAMENTS DEATH RUMOUR CIRCULATING IN SOCIAL MEDIA, SAYS ‘I’M ALIVE’TRUTH ABOUT THE IGBO NOT SELLING LAND TO NON-IGBOCONTROVERSY OVER PETROL PRODUCTION FROM PORT HARCOURT REFINERY: NNPCL NOT PRODUCING – REPORT; IT’S MISLEADING CLAIMS, WE’RE PRODUCING – NNPCENUGU TO LAUNCH AIRLINE AS GOV MBAH PRESENTS N971.8B FOR 2025WILL PRICE OF PETROL DROP?, NIGERIANS ASK AS PORT HARCOURT REFINERY BEGINS OPERATIONBREAKING: EFCC ARRESTS YAHAYA BELLOEBONYI GOVERNOR, NWIFURU, SUSPENDS TWO COMMISSIONERS, OTHERSPORT HARCOURT, WARRI, KADUNA REFINERIES TO BE PRIVATIZED – PRESIDENCYEND OF DARK TUNNEL: PORT HARCOURT REFINERY COMMENCES CRUDE OIL PROCESSINGOPEN LETTER TO SOUTHEAST SENATORS, HONOURABLE MEMBERS OF HOUSE OF REPRESENTATIVES, OHANAEZE YOUTH COUNCILNIGERIA WOULD HAVE BEEN BETTER UNDER PETER OBI – ABARIBEWHY NIGERIANS ARE POORER AMID GDP GROWTH -ECONOMISTSZAMANI LEKWOT: HOLDING JUDICIAL, MILITARY TERRORISM TO JUSTICE, BY OWEI LAKEMFAYOU FAILED TO SUPPORT, PARTICIPATE IN IFEANYI UBA’S BURIAL – FAMILY ACCUSES SENATENIGERIAN ARMY COMPLAINS ABOUT DWINDLING RESOURCESSENATORS KNOCK TINUBU’S GOVT OVER BORROWING DESPITE EXCEEDING REVENUE PROJECTIONSTHEY SAY THEY WANT BIAFRA, YET THEY KILL, KIDNAP THEIR BROTHERS – BISHOP LAMENTS OVER KILLINGS IN SOUTH EASTAUDITOR 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 GRADUATE
Mon. Dec 2nd, 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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