Audit observed from the review of the Fund’s cash books for years 2012, 2013, 2014 and 2017 that payments totalling N6,889,132,015.65 were made to some persons and companies during the period covered. However, related payment vouchers together with their supporting documents were not produced for audit. This suggests that payment vouchers were not raised in effecting these payments.
The Managing Director is required to account for the sum of N6,889,132,015.65, failing which he should refund the amount to the CRF, forwarding evidence of payment to the Public Accounts Committees of the National Assembly and to my office for verification. Sanctions within FR 3106 should apply.
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