Audit observed from the Council’s bank statements review include:
i. The Council made payments from its Zenith bank account with Account Number 1014775025 on 20th August, 2018 for “VAT on management fee”- 50,000.00 (Fifty thousand naira) and “Management fee”- 1,000,000.00 (One million naira). Payment for “Kwali Area Council cost of stamp loan” 275,000.00 (Two hundred and seventy-five thousand naira), thereby resulting in a total of 1,325,000.00 (One million three hundred and twenty five thousand naira);
ii. There was no payment voucher or bank mandate authorizing these payments;
iii. No record or documents were provided to the audit team to justify these payments;
iv. Request for details, proceeds and records on potential credit facility/loan obtained from the bank in relation to the payments, if any, were not attended to by the Council; and
v. The records on the utilization of the credit facility, if any, was equally not made available to the audit team.
The Honourable Chairman is requested to:
i. Account for the sum of 1,325,000.00 (One million, three hundred and twenty five thousand naira) or proceeds from the obtained credit facility, if any;
ii. Recover and remit to chest the sum of 1,325,000.00 (One million three hundred and twenty five thousand naira) or proceeds from the obtained credit facility, if any, and evidence of remittance should be forwarded to Public Accounts Committees of the National Assembly; and
iii. Otherwise, apply sanctions relating to poor management of cash and irregular or wrong payment in paragraphs 3115 and 3106 of the Financial Regulations, respectively.
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