During the audit, it was observed that the seven (7) companies entered into contracts with FRC without evidence of compliance with the above directives for which the sum of N13,431,340.00 was paid. This anomaly was due mainly to the failure of the Executive Secretary to strictly comply with laid down procedures and the provisions of extant laws and regulations guiding the remittance of 1% of the total payroll of Company’s under the guideline to the ITF and NSITF before awarding contracts to the company.
The Executive Secretary is required to produce the Industrial Training Fund and Nigerian Social Insurance Trust Fund certificates of these seven companies qualifying them for contract award, otherwise refund the sum of N13,431,340.00 paid to them to the CRF. Evidence of compliance should be forwarded to the Public Accounts Committee of the National Assembly.
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