The 2015 Audit report presented to the Senate Committee on Public Accounts by the Office of Auditor General of the Federation alleged diversion of N665.8 billion by the Office of the Accountant General of the Federation from Solid Minerals Development and Stabilisation Funds to some government agencies between 2013 and 2015.
It therefore ordered the OAGF to recover all the loans within 60 days and return same to their sources.
Agencies listed as beneficiaries of the funds as contained in the report adopted by the Senate penultimate week, are the Nigerian Army, the Independent National Electoral Commission (INEC), Federal Airports Authority of Nigeria (FAAN), Ministries of Power, Foreign Affairs, Works etc.
In the report, the committee, chaired by Senator Mathew Urhoghide (PDP Edo South), discovered that INEC collected about N20 billion from the fund aside N30billion released for it for conduct of the 2015 general elections.
Other beneficiaries of the funds (Solid Mineral Development Funds) the report added , are Ministry of Foreign Affairs – N3.6 billion, N50 billion diverted to fund deficit in 2004, Ministry of Works – N2 billion, Federal Airport Authority of Nigeria – N13 billion, Ministry of Sports N500 million, Monetization arrears due to PHCN staff – N57.5 billion, N70 billion to accelerate capital budget in 2010, loan to facilitate the funding of Capital budget in 2010- N80 billion , loan to facilitate 2013 Capital budget 4th quarter- N80.7 billion , Loan to Nigerian Electricity Regulatory Commission – N6 billion in 2014.
In addition, N15 billion was released to Lucius Nwosu as Judgement debt of N37 billion for Genocide at Odi, and N14 billion released to Ministry of Power for Kasshibilla Hydropower Transmission Projects, among others.
From the stabilisation fund, N847 million was given to Ghana, Sao Tome and Principe, the Independent National Electoral Commission (INEC) also collected N87 billion to commence the conduct of fresh voters registration , but paid back N21 billion and yet to balance N66.7 billion.
Others include N32 billion for the completion of 4th quarter and 3rd quarter of 2013 capital projects, N2 billion for the funding of Army operation in 2013, another N3 billion loan to INEC for the speed up of electoral process in 2013, loan to Nigerian Army for recruitment of 9,000 recruits in 2013-N3.5 billion and many more.
The office of Auditor General further stated in the report that from Development of Natural Resources Fund, apart from N17.9 billion collected from Brown Rice Levy , some diversions were also made from Comprehensive Import Supervision Scheme (CISS) Pool Levy and Rice Levy.
Further investigation showed the entitlement of former President, Goodluck Jonathan and Vice President Namadi Sambo which is about N1.5 billion paid June 11, 2015 was also from the fund .
The report also queried depletion of Special Funds, stating that “Amount totalling N455 billion were withdrawn from Development of Natural Resources as loans to various beneficiaries between 2004 and 2015, contrary to the established objectives of the funds.
“The purpose of the Development of Natural Resources Fund is to provide financial resources to development alternative mineral resources Development. The Development of Natural Resources Fund belongs to the Federal government.
“Also, various amounts totalling N210.3 billion were withdrawn from stabilization fund as loans to various beneficiaries, between 2004 and 2015 contrary to the established objectives of the funds.
“The purpose of the stabilization fund is to provide for unforeseen contingencies and economic downturn and the beneficiaries are the 36 states and Federal Capital Territory (FCT). The stabilization fund belongs to three tiers of government.”
Senate’s resolution
In view of this, the Senate, in consideration of the report, ordered the Accountant General of the Federation to ensure refund within 60 days.
“The Office of the Accountant General of the Federation should set in motion the process of the recovery of the loans and pay back to the special funds Accounts.
“Ensure that henceforth, payments from these special funds are strictly applied for the purposes they were created.
“Ensure the stoppage of further withdrawal from these Accounts without a resolution of National Assembly,” said the Senate.
