MDA

Nigerian Security Printing and Minting Plc

Project Location/State

Award Year

2019

Contract Sum

₦₦0.00

Amount Paid

₦₦0.00

Unaccounted

₦₦14,427,084,807.89

Context/Observation

i.The Company made payments totalling N14,427,084,807.89 to staff as salaries and allowances between 2016 and 2019.
ii. There was no evidence of approval from the National Salaries, Incomes and Wages Commission, in contravention of the above Circular.

Contractor

N/A

Beneficial Ownership Information

N/A

Legislative Recommendation

The Managing Director/Chief Executive Officer is requested to:
I.Produce the approval from the National Salaries, Incomes and Wages Commission to the Public Accounts Committees of the National Assembly
II.Recover the sum of N14,427,084,807.89 and remit same to the Consolidated Revenue Fund; and
III.Otherwise, sanctions relating to irregular or wrong payment and overpayment of salaries in Financial Regulations 3106 and 3111, respectively will apply.

Executive Action

N/A

Progress Report

N/A

Data Source

2019 Non-Compliance Audit Report of the FG

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