Audit observed that;
i. Forty-five (45) and twenty-four (24) payment vouchers for items of stores at value of 92,232,095.11 and 34,859,704.56 for 2018 and 2019 respectively, totaling N127,091,799.67 (One hundred and twenty seven million, ninety one thousand, seven hundred and ninety nine naira, sixty seven kobo) only, purchased and paid for from the Authority’s capital appropriation vote, were not taken on charge in the store ledgers and no Store Receipt Vouchers (SRV) were produced during the audit to confirm receipt of the items, contrary to FR 2402(I), and
ii. In addition, there were no Invoices, Delivery note, Receipts and Store issue vouchers attached to the payment vouchers. There was no evidence to show that the items were taken to store for documentation contrary to the provisions of Financial Regulations (2009) Sections 708, 2402(i) quoted above.
The Managing Director is requested to:
i. Furnish reasons why store items procured were not taken on ledger charge as required by extant regulations.
ii. Account for the sum of 127,091,799.67 (One hundred and twenty-seven million, ninety-one thousand, seven hundred and ninety-nine naira, sixty-seven kobo) only, being payment for store items not taken on ledger charge, and
iii. Recover and remit to the Treasury the sum of 127,091,799.67 (One hundred and twenty-seven million, ninety-one thousand, seven hundred and ninety-nine naira, sixty-seven kobo) only.
iv. Forward evidence of remittance to the Public Accounts Committee of the National Assembly, and
v. Otherwise, apply sanctions relating to payment for jobs not executed specified in paragraph 3104 (iii) of the Financial Regulations.
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