N1.2bn missing in Railway Corporation - House of Reps
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N1.2bn missing in Railway Corporation - House of Reps

- About N1.2 billion is currently missing from the coffers of the Nigerian Railway Corporation

- The members of the House of Representatives made the disclosure on Tuesday, December 17

- The lawmakers also prevented the management of the NRC from making its budget presentations and defence

Members of the House of Representatives have discovered that N1.2 billion is missing from the coffers of the Nigerian Railway Corporation (NRC).

Lawmakers of House committee on public accounts said the corporation failed to defend an allegation that the money was missing from its coffers.

Speaking on the missing fund, the chairman of the committee, Wole Oke, on Tuesday, December 17, said the NRC management had appeared before it based on an audit inquiry by the Office of the Accountant General of the Federation.

Daily Trust reports that Oke said the audit process showed for 2013 and 2014 financial years some discrepancies which led to the House stepping down the budget defence by the corporation.

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He also said that the committee rejected NRC management presentations by the Mrs O. Osunmade and A. Niyi.

N1.2bn missing in Railway Corporation - House of Reps

The lawmakers also prevented the management of the NRC from making its budget presentations and defence
Source: UGC

Oke said: “We’ll have to step down their matter for misrepresentation of facts, consequently; a subcommittee will be set up to look into the financial books and the activities of the corporation for accountability."

Meanwhile, Legit.ng previously reported that members of the House of Representatives had on Tuesday, December 17, rejected a bill proposing a single-term for president and governors in Nigeria.

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The bill was sponsored by John Dyegh from Benue state is expected to allow only a six-year single tenure for presidents and an unlimited tenure of six years for members of the National Assembly and state houses of assembly.

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Source: Legit

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