The Office of the
Accountant General of
the Federation illegally
withdrew N665.8 billion
from Development of
Natural Resources Fund
and Stabilization Funds
and given as loans to
various government
agencies, the Senate
has said.
The Red Chamber said
the funds were
withdrawn between
2004 and 2015 contrary
to the established
objectives of the fund.

The revelation is
contained in the report
of Senate Committee on
Public Accounts on the
Federation Account.
The committee had been
investigating
expenditures of federal
government agencies
from 2015-2018 based
on an audit report by
the Auditor-General for
the Federation.
The panel presented the
report of its six-month
investigation on the
Federation Account for
the year 2015, which
was approved by the
Red Chamber before
proceeding on annual
recess.
The Auditor General’s
report, in its query
against depletion of
Special Funds had said,
“Amount totaling N455.8
billion were withdrawn
from Development of
Natural Resources Fund
as loans to various
beneficiaries between
2004 and 2015, contrary
to the established
objectives of the fund.
“The purpose of the
Development of Natural
Resources Fund is to
provide financial
resources to develop
alternative mineral
resources to oil and gas.
“Also, various amounts
totaling N210.3 billion
were withdrawn from
Stabilization Fund as
loans to various
beneficiaries, between
2004 and 2015 contrary
to the established
objectives of the fund.
“The purpose of the
Stabilization Fund is to
provide for unforeseen
contingencies and
economic downturn and
the beneficiaries are the
36 states and Federal
Capital Territory (FCT).
The stabilization fund
belongs to three tiers of
government.”
The breakdown of the
beneficiaries of the
funds showed that the
entitlement of former
President Goodluck
Jonathan and Vice
President, Namadi
Sambo, which is about
N1.5 billion, were paid
on June 11, 2015.
It also revealed that the
Independent National
Electoral Commission
(INEC) received about
N20 billion from
Development of Natural
Resources Fund apart
from the N17.9 billion it
got from Brown Rice
Levy, Comprehensive
Import Supervision
Scheme (CISS) Pool Levy
and Rice Levy.
The Senate, in its
resolution, directed the
Accountant-General of
the Federation to ensure
refund of the monies
within 60 days.
https://dailytrust.com/accountant-general-illegally-withdrew-n665-8bn-from-special-fund-senate
mynd44 oam4j lalasticlala seun

God punish Badluck jonatan and his entire PDP Looters association for this massacre!!!

Hmm let continue blaming Buhari for Nigeria's problems

Pdp, the most useless political party in Africa

Pdp, die die die die die die die

Rubber stamp 8th senate should concern themselves with the thiefry going on in this administration

More billions of dollars are spent on security by buhari yet ordinary "bandits" have turned soldiers to endangered species

All this stale tactics to divert attention where there was senate, oversight, courts, efcc before 2015 won't work

Mikecold:
F

F for Failure party Pdp

.

2004-2015..... Apc I hail o. Y d audit stop for 2015.. in 2021 you are just giving the report. Una try. yeye dey smell.

Billions wey I dey hear dey shock me.

ManirBK:
God punish Gudluck jonatan and his entire PDP Looters for this massacre!!!

Kindly transfer your anger to that snail in aso rock that has turned Nigeria to a living hell for humans and animals living in this country, he is the cause of your anger, he is d reason why you are jobless, he is the reason why 1 thousand naira can no longer buy anithing in Nigeria today, the senates are busy quoting billions that was stole by the previous administration just because most of the past senators belong to the opposition party, can this same senates open their roten mouth to tell us half of the money they 've stole under the present admistration? Who is fooling who? Politicians are thiefs and the all use thesame pattern to steal, they will always expose the monies that were stolen by the pevious administration to make the cititzen think they are diffrent from the past leaders, unfortunatly, we are now wise enough to know that they are all thieves

Mikecold:
Rubber stamp 8th senate should concern themselves with the thiefry going on in this administration

More billions of dollars are spent on security by buhari yet ordinary "bandits" have turned soldiers to endangered species

All this stale tactics to divert attention where there was senate, oversight, courts, efcc before 2015 won't work

Cover your face with at least something..

Why not allow the next administration to expose all the corruption under Buhari's government.

This thread is a about how the looting party Pdp diverted billions of naira which every sane Nigeria should be worried about

The kind of massive corruption under this saintly APC Govt sef

jlinkd78:
The kind of massive corruption under this saintly APC Govt sef

Mr wailer pls read well before comment the red chamber is indicting the
PDP administration considering the period
in question.(between 2004 and 2015)

ManirBK:
Mr wailer pls read well before comment the red chamber is indicting the
PDP administration considering the period
in question.(between 2004 and 2015)

Read well for wailers? When they have been fixated..

They only react to headline. The ones that are able to read it would still blame their ancestors for it

Monogamy:
Pdp, the most useless political party in Africa

Pdp, die die die die die die die

Just another reminder that PDP is not an ,"individual'' How do you expect it to DIE

Monogamy:
Pdp, the most useless political party in Africa

Pdp, die die die die die die die

Just another reminder that PDP is not an "individual'' How do you expect it to DIE

SundayIgboh:


Just another reminder that PDP is not an ,"individual'' How do you expect it to DIE

Same way it's gradually dieing in SW, same way it's in comatose in SS and same way it's disarray in SE

Yet wailing idiots, pigpob and the rest of the gullible people in between think Nigeria's problem started in Nigeria 2015.

bigeliot:
2004-2015..... Apc I hail o. Y d audit stop for 2015.. in 2021 you are just giving the report. Una try. yeye dey smell.

The chairman of the senate committee on public accounts is Senator Mathew Urhoghide from PDP. So, how’s this APC issue?

God punish buhari and the entire Nigeria politicians

Criminality na normal thing under this junta na

Monogamy:


Same way it's gradually dieing in SW, same way it's in comatose in SS and same way it's disarray in SE

I can only engage you if you're a Politician, if you're not � LET'S 4GET'Tit

ManirBK:
Mr wailer pls read well before comment the red chamber is indicting the
PDP administration considering the period
in question.(between 2004 and 2015)

Lol, you're a politician