Reps indict NNPC, others over extra budgetary spending, TSA violations

The House of Representatives yesterday indicted the Nigerian National Petroleum Corporation (NNPC) of extra-budgetary spending while other Ministries Departments and Agencies (MDAs) were accused of violating the Treasury Single Account (TSA)  policy of the Federal Government.

This was sequel to the adoption of the recommendations of the ad hoc committee hoc committee on the need to ascertain the proceeds of the TSA to enhance transparency,  accountability and good governance.

“The committee discovered some extra-budgetary spending from the information submitted by the NNPC;  Brass LNG received an appropriation of $511.60 million, while the actually release  was $461.54 million during 2012-2017 fiscal years,” the report said.

Subsequently, the Green Chamber mandated the Ministry of Finance (MoF) , the Office of the Accountant General of the Federation (OAGF) and the Central Bank of Nigeria  (CBN) to intensify efforrs to enforce full implementation and compliance to the Treasury Single Account (TSA)  policy by all MDAs.

The committee headed by Hon. Danburam Abubakar recommended that all MDAs  that have violated the policy should be sanctioned accordingly.

“During the course of the investigations with various stakeholders,  overwhelming discoveries were made.

“It was observed funds belonging to the Federal Government to the tune of billions of Naira and hundreds of millions of Dollars were operated outside the TSA by the MDAs in collaboration with the banks,” the panel said.

The committee therefore recommended the suspension of of payments outside the TSA policy and that applications for exemptions/waivers of all or any MDA must follow the guidelines on TSA policy.

The lawmakers also agreed that all exemptions/waivers granted to MDAs outside the TSA policy be declared illegal and fraudulent.


Source: The Nation



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