MDA

Investment And Securities Tribunal

Project Location/State

Award Year

2019

Contract Sum

₦₦55,010,834.76

Amount Paid

₦₦55,010,834.76

Unaccounted

₦₦4,010,834.76

Context/Observation

i.Three (3) operational Toyota vehicles were supplied by company via contract award ref. IST/PROC/ 167 and IST/PROC/166 dated 2 May 2018 and June 27, 2018 respectively at a cumulative sum of N55,010,834.76
ii.The amount of N51,000,000.00 was the appropriation for the procurement of operational vehicles in the year.
iii. Extra budgetary expenditure of N4,010,834.76 was made contrary to the provisions of FR 417.

Contractor

N/A

Beneficial Ownership Information

N/A

Legislative Recommendation

The Chief Registrar is requested to:
I.Furnish evidence of the approved virement of N4,010,834.76 (55,010,834.76- 51,000,000.00) to the Public Accounts Committees of the National Assembly
II.Otherwise, sanctions relating to gross misconduct in paragraph 3129 of the Financial Regulations should apply.

Executive Action

N/A

Progress Report

N/A

Data Source

2019 Non-Compliance Audit Report of the FG

Project Gallery

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