Lawmakers summon Accountant-general over missing £5.5 million

Obinwannem News Lawmakers summon Accountant-general over missing £5.5 million

The House of Representatives Wednesday requested for the Accountant General of the Federation, Ahmed Idris, to appear before the committee to “give proper account of missing £5.5 million”.

The money was said to have been marked as Operational cost, into the Nigerian Wealth Fund.

The Managing Director, of the Nigerian Sovereign Wealth Fund, Uche Orji, had told the House Adhoc committee investigating the usage of looted and recovered funds that the money, which is supposed to come from Ireland, had not been credited to the account of the agency, at the time of filing this report.

However, a letter he read before the committee suggested that the money was sent to Nigeria, leaving lawmakers at a loss to where it was lodged.

“Part of the monies recovered , and expected to be transferred to the NSWF for its operations, also included data 311 million pounds from the United States, and 4.2million pounds from the United Kingdom”.

While Orji stated that the 311 million pounds were transferred to the fund, but not yet spent, he added that the 4.2 millions pounds and 5.5 million Euro, was yet to be recieved.

He said, “We are aware that an agreement has been reached between the Ministry of Justice, and the counter part countries. We have been notified about these agreements, and that the funds will be transferred to us, but we are yet to receive the funds at NSIA”.

Asked whether the money was not sent to Nigeria, he said: “All that I know is that we were asked to send an account to the Central Bank, but we are not involved in those negotiations”.

“However, while reading from a letter given to him by the committee, Orji said, “I am directed to refer to your letter that the sum of 5.5 million Euros be credited to FGN Recovery Account.

On what credit meant, he said, “it means, that the money has been sent.

“However, a member of the committee, Edun Olarenwaju, said: ” It is important that we invite the Accountant General to come and interface with NSIA. If you recall, yesterday (Tuesday), I challenged the Accountant General on whether the money was missing.

“Now, NSIA is saying they don’t know where the money is, so there is need for two of them to appear before this committee tomorrow, so we can find a lasting solution to the 5.5 million Euros, is not a small money.”

Chairman of the committee ruled that the Managing Director, should appear before the committee today, with the Accountant General, and the Minister of Finance on the issue.

The House also quizzed the chairman of the Economic Crimes Commission, EFCC, Abdul Rasheed Bawa, representative of the Nigerian Navy, Rear Admiral Abraham Adaji, and the Chairman of the Independent Corruption Practices Commission, ICPC, and turned back the representative of the Nigerian Security and Civil Defence Corps, NSCDC, and the Federal Inland Revenue Service.

Chairman of the ICPC, Prof Bolaji Owasainyo, told the committee that so far, the Commission had recovered 7.5 billion looted fund, out of which the government accessed over 5 billion leaving the balance of 2.1 billion to the account.

Ijeoma Njoku reporting, Obinwannem News | May 27, 2021

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