Diversion Of Public Funds

Posted on
by OLUDOLAPO TUBI
  • Project Status: N/A

MDA

Maritime Academy of Nigeria, Oron

Project Location/State

N/A State

Award Year

2018

Contract Sum

₦₦0.00

Amount Paid

₦₦457,657,293.12

Unaccounted

₦₦457,657,293.12

Context/Observation

Audit observed that the sum of N457,657,293.12 released to the Academy on 13th December 2012 was irregularly diverted to UBA account number;1006476693. All efforts made by the Audit Team to sight the bank statement, supporting documents for s for utilization of the fund and other relevant details proved abortive.

Contractor

N/A

Beneficial Ownership Information

N/A

Legislative Recommendation

The Rector is required to recover the sum of N457, 657,293.12 irregularly diverted into a private account and furnish recovery particulars. Sanctions within FR 3106 should apply.

Executive Action

N/A

Progress Report

N/A

Data Source

2018 Audit Report

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