List: Jonathan, Others Mentioned as Beneficiaries as Senate Uncovers Illegal Withdrawal of N665.8bn by AGF

List: Jonathan, Others Mentioned as Beneficiaries as Senate Uncovers Illegal Withdrawal of N665.8bn by AGF

  • The Senate says N665.8 billion from the Development of Natural Resources Fund and Stabilization Funds was illegally withdrawn between 2004 and 2015
  • According to the Red Chamber, the fund which belongs to the three tiers of government is meant for the development of alternative mineral resources to oil and gas
  • However, the office of the AGF has withdrawn N665.8 billion for other purposes, including the payment of ex-President Jonathan's entitlement

PAY ATTENTION: Join Legit.ng Telegram channel! Never miss important updates!

National Assembly complex, Abuja - The Senate has accused the Office of the Accountant General of the Federation of illegal withdrawal of N665.8 billion from the Development of Natural Resources Fund and Stabilization Funds.

Daily Trust reported that the lawmakers added the funds were withdrawn between 2004 and 2015 and given as loans to various government agencies, contrary to the established objectives of the fund.

Read also

COVID-19: Biden set to announce vaccination requirement across US government

Jonathan, Sambo, Others Mentioned as Beneficiaries as Senate Uncovers Illegal Withdrawal of N665.8bn by AGF
The Senate has directed the Accountant General of the Federation to refund N665.8 billion that was diverted from the country’s solid minerals development fund. Photo credit: Nigerian Senate
Source: Facebook

Legit.ng gathers that the allegation is contained in the report of the Senate Committee on Public Accounts.

The committee had been investigating expenditures of federal government agencies from 2015-2018 based on an audit report by the Auditor-General of the Federation.

The panel presented the report of its six-month investigation on the Federation Account for the year 2015 which was approved by the Red Chamber before proceeding on annual recess.

The Senate explained that the purpose of the Development of Natural Resources Fund is to provide financial resources to develop alternative mineral resources to oil and gas.

It explained further that the fund is to provide for unforeseen contingencies and economic downturn and the beneficiaries are the 36 states and Federal Capital Territory (FCT) and belongs to the three tiers of government.

However, the fund has been spent for other purposes, ThisDay also reported.

Below is the list of politicians and government agencies that reportedly benefited from the alleged diversion:

Read also

President Buhari signs N982billion supplementary 2021 budget

1. Former President Goodluck Jonathan

2. former Vice President Namadi Sambo (the former leaders paid N1.5 billion entitlement from the fund in 2015)

3. INEC (N20 billion)

4. Nigerian Army

5. Federal Airports Authority of Nigeria (FAAN) and some other Ministries, Departments and Agencies (MDAs)

The Senate, in its resolution, directed the Accountant-General of the Federation to ensure the refund of the monies within 60 days.

PAY ATTENTION: Install our latest app for Android, read the best news on Nigeria’s #1 news

Senate reveals those behind the greatest corruption in Nigeria

Earlier, Legit.ng reported that the Senate Public Accounts Committee claimed that civil servants are more corrupt than the political class.

Senator Matthew Urhoghide, the chairman of the committee made the claim during an exclusive interview with The Punch in Abuja.

He said the investigation by the committee has so far revealed that institutional corruption was taking place in the civil service.

Source: Legit.ng

Online view pixel