MDA

National Insurance Commission (NAICOM)

Project Location/State

Award Year

2019

Contract Sum

₦₦0.00

Amount Paid

₦₦10,875,000.00

Unaccounted

₦₦10,875,000.00

Context/Observation

Audit observed that the Commission engaged and paid external solicitors to the tune of N10,875,000.00 in respect of various legal cases between the Commission and other parties without the consent of the Attorney General of the Federation as required by extant rules.

Contractor

N/A

Beneficial Ownership Information

N/A

Legislative Recommendation

The Commissioner for Insurance is requested to:
I. Recover and refund to Treasury, the sum of N 10,875,000.00 being amount spent on legal services without the approval of the Attorney-General of the Federation.
II.Forward the treasury receipt obtained from Accountant General of the Federation, supported with REMITA payment receipt to the Public Accounts Committees of the National Assembly, and
III.Otherwise, sanction relating to irregular or wrong payment in paragraph 3106 of the Financial Regulations should apply.

Executive Action

N/A

Progress Report

N/A

Data Source

2019 Non-Compliance Audit Report of the FG

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