1.The 25% charged on the 30% mark-up on drugs and 25% on all other revolving fund revenue, amounting to N246,132,460.80 (Two hundred and forty-six million, one hundred and thirty-two thousand four hundred- and sixty-naira eighty kobo) between 2016 and 2019.
2.The drugs bought were sold at 30% mark-up, while the other inputs procured such as reagents, had arbitrary mark-ups ranging from 80% to 120%.
3.There was no evidence to show the above amount and other mark-ups were remitted to the Consolidated Revenue Fund (CRF) as required by extant regulations
4. Though the Government has clear instructions on how revolving funds should be operated, our review and interviews with relevant officers of the Centre showed that no structure was put in place for the operation of the various revolving funds and this can lead to a huge loss of government revenue.
1. Explain why revenues due to the government were not properly accounted for.
2. Recover and remit the sum of N246,132,460.80 (Two hundred and forty-six million, one hundred and thirty-two thousand, four hundred and sixty naira and eighty kobo) to the CRF.
3. Forward evidence of remittance to the Public Accounts Committees of the National Assembly, and
4. Otherwise, apply sanctions relating to failure to collect and account for revenue in paragraph 3112 of the Financial Regulations
N/A
N/A
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