Audit observed from the review of payroll records and GIFMIS statement for years 2018 and 2019 that:
i. The Authority paid its five (5) Executive Directors an unapproved (illegal rent rate) subsidy of 230,066.50 monthly from January 2018 to December 2019, i.e., twenty-four (24) months.
ii. The Managing Director was paid from January 2018 to June 2019 Eighteen (18) months, and
iii. Each of the Executive Directors collected 4,141,197.00 and the Managing Director 1,610,465.50) totalling 22,316,450.50 (Twenty-two million, three hundred and sixteen thousand, four hundred and fifty naira, fifty kobo).
The Managing Director is requested to:
i. Provide reasons why unapproved rent subsidies were paid to the Managing Director and Executive Directors.
ii. Recover the sum of 22,316,450.50 (Twenty-two million, three hundred and sixteen thousand, four hundred and fifty naira, fifty kobo) and remit same to the Treasury.
iii. Forward evidence of remittance to the Public Accounts Committees of the National Assembly, and
iv. Otherwise, apply sanctions relating to overpayment of salaries and allowances to staff and irregular or wrong payment as stated within paragraphs 3111 and 3106 of the Financial Regulations (2009) respectively.
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