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Reps Panel ‘uncovers’ $995m FG Funds Outside TSA - Politics - Nairaland

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Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Islie: 9:31pm On May 10
A house of representatives panel says it has uncovered public funds outside the treasury single account (TSA) to the tune of $995.71 million.

The ad hoc committee on the need to ascertain the proceeds of the treasury single account made the submission in its report considered and adopted by the house on Thursday.

According to the committee chaired by Danduram Abubakar, federal government funds to the tune of “billions of naira and hundreds of millions of dollars” were operated outside the TSA by the ministries, departments and agencies (MDAs) in collaboration with banks.

The report obtained by PUNCH read: “After the meeting with Deposit Money Banks, the Central Bank of Nigeria, the Office of the Accountant-General of the Federation, the Office of the Auditor-General of the Federation and the Nigerian National Petroleum Corporation on August 15, 2017, the committee discovered that over $900m is still being held outside the TSA.

“While some banks fully complied with the directive of the ad hoc committee by remitting these funds into the TSA, it is worthy of note that the sum of about $995.71m was still held outside the TSA by some other banks. This sum of $995.71m includes the principal deposit and the accrued interest on the deposit. Also discovered was an amount of N1.207bn and €23,704.01.”

The committee also accused the NNPC of extra-budgetary spending. It said while (its) Brass LNG “received an appropriation of $511.60m, the actual release was $461.54m during 2012-2017 fiscal years.”

The lawmakers specifically indicted the corporation and an agency of the federal ministry of environment of violating the TSA policy.

They said the balance in the CBN joint venture account as reported by the NNPC, dated October 30, 2017, stood at $188,900,383.49, adding: “These are the various accounts classified as accounts still not being moved to TSA by CBN, DMBs account.”

The report further read: “The committee discovered three accounts held by the NNPC in Aso Savings and Loans PLC and Unity Bank PLC. The accounts include two placement accounts called NNPC PFL Placement Deposit and the third account called NNPC Pension Fund account. The total balance in these accounts as of August 27, 2017, stood at N1, 079,444,746.49.

“The committee also made another startling discovery of a fund held in another DMB by the Federal Ministry of Environment; Hydrocarbon Pollution Remediation Programme called FME HYPREP Account. The balance in this account as of September, 2018, stood at N1.1bn and $4.9m domiciled in Stanbic IBTC Bank.”

The committee said some of the MDAs operating accounts outside the TSA claimed to have obtained a presidential exemption over their actions.

“In the case of NNPC, the committee insisted to sight the purported exemption letter. However, to the dismay of committee, the letter was only conveying the approval of the President signed by an assistant director,” it said.

https://www.thecable.ng/reps-panel-uncovers-995m-fg-funds-outside-tsa
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by UbanmeUdie: 11:07pm On May 10
shocked




Buhari is an accursed thing!


The god's of our forefather's won't forgive Nigerians for letting the lunatic have a second term.


God bless GEJ.

46 Likes 3 Shares

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by WhoDeyThere(m): 11:07pm On May 10
K
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by West2019(m): 11:07pm On May 10
Hmmmmm
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Themaths(m): 11:08pm On May 10
wink
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Nathphil: 11:09pm On May 10
grin shocked
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Queenboy123(m): 11:09pm On May 10
How sure are they?
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Jgovt(m): 11:10pm On May 10
Mr Integrity and his administration

6 Likes

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by drskyfly007(m): 11:11pm On May 10
By the time this administration is over, Nigerians will uncover the real meaning of corruption embarassed

42 Likes 2 Shares

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by AkataYeriYeri: 11:12pm On May 10
Thank God for Buhari

4 Likes

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Bruemath(m): 11:13pm On May 10
Let's wait and hear from the other party involved
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by nelcliff(m): 11:17pm On May 10
Queenboy123:
How sure are they?

And I guess it's been long you left the shore of Nigeria..

By the way, welcome back home....

3 Likes

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by debaj10: 11:17pm On May 10
Jgovt:
Mr Integrity and his administration
islie!

is PDP and jona do it!

bababubu!

arrest dem!

efcc, wia una dey?!

grab mama peace, na na!

chai!

diaris God oooo!

8 Likes

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by TooMuchStuff: 11:18pm On May 10
Trust APC at ya peril.

7 Likes

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Queenboy123(m): 11:18pm On May 10
nelcliff:

And I guess it's been long you left the shore of Nigeria..
By the way, welcome back home....
Never say what you don't know
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Alcacer47: 11:34pm On May 10
UbanmeUdie:
shocked




Buhari is an accursed thing!


The god's of our forefather's won't forgive Nigerians for letting the lunatic have a second term.


God bless GEJ.
Gej my ass...didn't u see where it was clearly stated that the funds were stashed in those accounts from 2012-2017 or that part where they said an assistant director impersonated the president or pls can u also tell me what the nass were doing during Gej's tenure that they couldn't uncover a plot as this....lastly, are you so dumb that u couldn't spot any of these points and just decided to type cos u just got free data? Go to school pls

26 Likes 3 Shares

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by OkaNaUbe(m): 11:35pm On May 10
Fantastically corrupt.
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Opinedecandid(m): 11:39pm On May 10
Buhari the saint.
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by tomdon(m): 11:41pm On May 10
One billion dollars
This is mind boggling
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by TrashDetective: 11:48pm On May 10
Incredible!...it doesn't matter who leads Nigeria, as it stands, Nigerians are fantastically corrupt.

It doesn't matter whether you are PDP or APC, it appears fraud is in some people's DNA.

We need cleansing not revolution.

2 Likes

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by BuhariAdvocate: 12:22am On May 11
Fake news . It's very hard to believe those mens in red chamber or green chamber useless and deceptive people.
Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Studyinchina200(m): 12:22am On May 11
Nigerian banks and corruption are like 5&6

1 Like

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by HazzanTazzan(m): 12:24am On May 11
UbanmeUdie:
shocked




Buhari is an accursed thing!


The god's of our forefather's won't forgive Nigerians for letting the lunatic have a second term.


God bless GEJ.

Walahi u no get sense...

The story stated that ministries and banks are stealing monies that shld go into TSA and not remitting it into TSA even with every effort made by Buhari to make sure the ministries aren’t able to steal public funds...

And you’re still here cursing Buhari for the misfortune of your country... you people are just super corrupt and there’s no way to save Nigeria

12 Likes 2 Shares

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Blue3k(m): 12:48am On May 11
After all these discoveries when do we get indictments and prison sentences. These guys cant be brazenly breaking laws with zero consequences. NNPC is always caught in the middle of these stories if anyone notices.

3 Likes

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by emere007(m): 1:07am On May 11
The report further read: “The committee discovered three accounts held by the NNPC in Aso Savings and Loans PLC and Unity Bank PLC. The accounts include two placement accounts called NNPC PFL Placement Deposit and the third account called NNPC Pension Fund account. The total balance in these accounts as of August 27, 2017, stood at N1, 079,444,746.49.

to cover his hypocritical and highly corrupted wrinkled A$$ and those of his fellow corrupt cronies, the Veggie had to retain Emefiele, and Zonbeexxxx have been busy all day recanting the altruistic tendencies of the herdsman for being the first C-IN-C to give any CBN GOV a second term in office. So much for altruism grin grin grin

1 Like

Re: Reps Panel ‘uncovers’ $995m FG Funds Outside TSA by Sunrise258: 1:29am On May 11
Even if angel came to rule Nigeria and corruption attracts death penalty, Nigerians would still steal. It's in our DNA. How were they able to manipulate and beat TSA? I'm not surprised. Nigerians that still peddle drugs to Arab countries where it is punishable by death fear nothing anymore.

5 Likes

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