Audit observed that a Payment Voucher, number 04718 dated 24 th November 2017 amounting to N55,000,000.00 was raised in favour of Nigeria Employers Consultative Assembly (NECA) for the financing of NSITF-NECA’s budget for Safe Workplace Intervention Project. The following observations were made:
• There is no documentary evidence to show that the expenditure was provided for in the Fund’s approved budget for 2017.
• Though, the Payment Voucher was raised in favour of NECA, it is not clear whether the payment was ultimately made to NECA or not as the bank schedule was not provided.
• The use for which the money was intended was not disclosed as the financed budget was neither attached to the PV nor made available for audit scrutiny.
• Justification for the expenditure was not provided as documentary evidence showing how the money was utilised was not disclosed even during exit conference.
In view of the foregoing, the genuineness of the payment is in doubt as it is not convincing that the expenditure was incurred in public interest and in line with laid down rules and regulations governing the disbursement of Public Fund.
The Managing Director is required to justify the disbursement of N55,000,000.00 for unbudgeted project failing which the amount should be recovered while evidence of recovery forwarded for audit verification. Sanctions within FR 3106 should apply.
N/A
N/A
Click to enlarge image
Seach for project by title, MDA, state, status, year…
Do you know of project(s) in your community that has been abandoned, not executed or poorly implemented. Our team is ready to help you track it and get government to act.
Value for Money allows you to track, report and act on audited development projects abandoned, not executed or poorly implemented in your community to ensure public funds are efficiently, effectively, and economically utilized to improve service delivery to you and other citizens in Nigeria
Stay in the loop, get all project updates straight in your inbox.
