During the 2018 audit, it was observed that, the bank statement of the Council’s Zenith Bank account number 1012632878 for the period 03/11/2016-27/10/2017, had a balance of N755,048,280.94 as at 03/08/2017. From this amount, the Council invested the sum of N720,000,000.00 in Treasury Bill for a tenure of 92 days leaving a balance of N35,048,280.94. This was to be fully liquidated by November 2017. But contrary to this, the account was closed on 27th October 2017, with a transfer of only N34,481,280.91 to the Consolidated Revenue Fund (CFR), leaving the investment of N720,000,000.00 and interest accruing unaccounted for.
The Executive Secretary is required to:
(i) Account for the sum of N720,000,000.00 and the interest accrued therein.
(ii) Produce Zenith bank statement account number 1012632878 for the period (August to October 2017) to the Public Account Committee of the National Assembly for scrutiny.
(iii) Produce a comprehensive CBN statement for November 2017 to the Public Account Committee of the National Assembly for scrutiny.
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.
