Audit observed that a total of N31,327,458.50 was paid to four top management staff and their spouses as estacode allowances and air passages for vacation in various overseas countries without approval from appropriate authorities. Also, the criteria used in arriving at the amount was not known considering the disparity in the amounts paid to each of them.
Audit is particularly concerned as to why expenses in respect of family vacation, which ought to be a private matter, will be borne by public funds. This act is a clear violation of the provisions of Financial Regulations 415 which states that “The Federal Government requires all officers responsible for expenditure to exercise due economy. Money must not be spent merely because it has been voted.”
The Managing Director is required to recover the sum of N31,327,458.50 from the beneficiaries and pay same to treasury. Sanctions stated in FR 3106 and 3115 should apply.
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