The Senate committee on Public accounts has summoned the Minister of Finance, Budget and National Planning, and the Accountant General of the Federation, Ahmed Idris, to give appropriate details of the ₦7.5 billion withdrawal from the 2% National Automative Council levy account and the funds in the account of the National Design Development Council (NADDC).
The panel led by Matthew Urhogide issued the bidding on Wednesday following a query raised in the Auditor General of the Federation (AUGF) report.
According to the AUGF, the funds were withdrawn on various occasions from 2000 to 2006; for government transactions carried out by the presidency.
National Design and Development Council (NADDC) director told the lawmakers that the money was withdrawn without prior knowledge of the agency, stating that several effort to recover the fund had failed.
However, the AUGF report said ₦3.7 billion was withdrawn between March and December 2000, while 3.8 billion was withdrawn in two installments ₦2.8 billion in 2005, and ₦1 billion in 2006.
“A total sum of ₦3,836, 000,000.00 was irregularly withdrawn from the 2% National Automative Council levy account, with the Central Bank of Nigeria, Abuja.
In two installments of ₦2,80,000,000 in 2005, and ₦1,036,000,000.00 in 2006, by the Accountant General of the Federation and the Federal Ministry of Finance as car loans to be granted for the security personnel, and car purchase scheme loan, the AUGF stated in its query.
“The transaction was carried out by the presidency in collaboration with the bank of industry, the Federal Ministry of Finance and the Accountant General of the Federation, without involvement of NAC, the account owner.
“However, the principal and the accured interest from the fictitious loan, have not been paid back, how are records available on the beneficiaries, agreement documents, moratorium, duration of the loan, the yearly interest rates, a curable and now the fund will be paid back by the beneficiary.
“The director General of NADDC, has been requested to intensify correspondence with the Honorable Minister of Finance, Accountant General of the Federation and the presidency to recover the fund (loan).”
Ijeoma Njoku reporting, Obinwannem News
