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SERAP seeks probe of Finance Ministry over alleged misappropriation of N3.1bn

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The Socio-Economic Rights and Accountability Project (SERAP) has charged President Muhammadu Buhari to commence investigations into the “over N3 billion of public funds allegedly missing, mismanaged or diverted from the Federal Ministry of Finance.”

This was contained in a statement issued on Sunday by the SERAP Deputy Director, Kolawole Oluwadare, while imploring President Buhari to “use his good offices to direct the Attorney General of the Federation and Minister of Justice Mr Abubakar Malami, SAN,” to commence proceedings.

The organization said the allegations are documented in the 2018 and 2019 annual audited reports by the Auditor-General of the Federation.

SERAP said: “Anyone suspected to be responsible should face prosecution as appropriate, if there is sufficient admissible evidence, and any missing public funds should be fully recovered.”

“As trustee of public funds, the Ministry of Finance ought to ensure strict compliance with transparency and accountability rules and regulations.”

SERAP further stated that the Ministry has “a sacred duty to ensure transparency and accountability in the spending of the country’s resources. This implies providing strong leadership in the efforts to curb public sector corruption.

“This leadership is important for the Ministry to enjoy the public trust and confidence essential for its effectiveness and impact.

“The allegations that N3,143,718,976.47 of public funds are missing will also clearly amount to a fundamental breach of national anticorruption laws and the country’s international anticorruption obligations including under the UN Convention against Corruption to which Nigeria is a state party.

“Investigating and prosecuting the allegations, and recovering any missing public funds would improve the chances of success of your government’s oft-repeated commitment to fight corruption and end the impunity of perpetrators. It will also serve the public interest.

READ ALSO: Senate clears finance ministry on alleged non-release of funds to MDAs

“According to the report of the Auditor-General for 2018, the Ministry of Finance spent N24,708,090.00 on pre-retirement training but without any document. The consultant hired also failed to quote any price as cost of the training but the Ministry paid N5,670,060.00 to the consultant. Request for payment from the consultant was dated 20 January 2017 while the first payment voucher in his favour was dated 13 January 2017 (7 days before his request).

“The Ministry also reportedly failed to account for N2,885,772,493.27 released to the Ministry from the Service Wide Vote to take care of estacodes and other allowances for representing the Federal Government in meetings, and contribution to Organization for Petroleum Exporting Countries (OPEC).

“The money was spent without approval, and any documents. The Auditor-General is concerned that the money may have been mismanaged.

“The Ministry also reportedly awarded a contract on 17th May 2017 for N98,540,500.00 without any document, contrary to the Public Procurement Act. The project was not also budgeted for. There was no evidence of performance of the contract. The Ministry also deducted N9,354,809.52 as WHT and VAT but without any evidence of remittance. The Auditor-General wants the money recovered.

“We would be grateful if the recommended measures are taken within 14 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government to comply with our request in the public interest.”

The letter was copied to Mr Malami; Professor Bolaji Owasanoye, Chairman Independent Corrupt Practices and Other Related Offences Commission (ICPC); Mr Abdulrasheed Bawa, Chairman, Economic and Financial Crimes Commission (EFCC); Mrs Zainab Ahmed, Minister of Finance, Budget and National Planning; and chairmen of the Public Accounts Committees of the National Assembly.

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