Audit observed that:
i. The Managing Director opened two commercial Bank accounts named “Anambra Imo River Basin Rural Dev. Account No. 1000270710” and “Diamond Bank (Access Bank) Account Number 00043314444”, and
ii. The Managing Director transferred revenue generated as rent from Authority’s staff quarters in 2018 of 1,270,300.00 and 1,150,750.00 in 2019 totalling 2,421,050.00 (Two million, four hundred and twenty one thousand, and fifty naira) only and other funds of 272,000.00 that would have been in designated TSA account to these UBA and Access Banks accounts.
The Managing Director is requested to:
i. Furnish reasons for opening accounts with commercial banks.
ii. Recover and remit the sum of 2,693,050.00 (Two million, six hundred and ninety-three thousand, fifty naira).
iii. Forward evidence of remittance to the Public Accounts Committees of the National Assembly, and
iv. Otherwise, apply sanctions relating to failure to collect and account for government revenue as stated within paragraph 3112 of the Financial Regulations.
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