The Senate has uncovered how the administration former President Goodluck Jonathan, Independent National Electoral Commission (INEC), Nigerian Army, Federal Airports Authority of Nigeria (FAAN) and some ministries, departments and agencies (MDAs) benefitted from alleged diversion of N665.8 billion Solid Minerals Development and Stabilisation Funds through the accountant general of the federation.
The lawmakers therefore, ordered the AGF to ensure that the funds in form of loans and special allocations were recovered and paid back to the special funds accounts within 60 days.
The senate issued the order to the AGF after consideration and approval of the 2015 auditor general’s report presented at the plenary by the chairman of the senate committee on public accounts, Mr. Mathew Urhoghide.
The senate at the plenary held shortly before proceeding on its annual vacation approved the recommendation of the committee that the funds diverted between 2014 and 2015 be returned to government coffers within two months.
Two countries namely Ghana and Sao Tome and Principe also benefitted from the diverted stabilization funds to the tune of N847 million.
A breakdown of the beneficiaries showed that N1.5 billion severance allowance of Jonathan and his deputy, Mr. Namadi Sambo were paid from the funds on June 11, 2015, about two weeks after leaving office while INEC, collected N20 billion from Development of Natural Resources Fund apart from N17.9 billion it received from Brown Rice Levy and Comprehensive Import Supervision Scheme (CISS) Pool Levy.
Another N30 billion was released by the AGF to INEC in 2014 and 2015 for the conduct of the 2015 general election with the breakdown showing that N10 billion was released on July 3, 2014, while N20 billion was released on January 12, 2015, apart from N93 billion appropriated by the National Assembly in 2015 for the conduct of the elections nationwide.
Other beneficiaries of the diverted funds included the ministry of foreign affairs: N3.6 billion, N50 billion to fund budget deficit in 2004; ministry of works:N2 billion; FAAN, N13 billion; ministry of sports, N500 million; monetisation arrears due to PHCN staff, N57.5 billion; N70 billion to accelerate capital budget in 2010; loan to facilitate the funding of capital budget in 2010, N80 billion; loan to facilitate 2013 capital budget 4th quarter, N80.7 billion; loan to the Nigerian Electricity Regulatory Commission, N6 billion in 2014.
In addition, N15 billion was released to one Lucius Nwosu as judgement debt of N37 billion for genocide at Odi in Bayelsa State while N14 billion was released to ministry of power for Kasshibilla Hydropower Transmission Projects, among others.
The withdrawals from the stabilisation fund also included N847 million paid to Ghana, Sao Tome and Principe for an unspecified purpose; INEC also collected N87 billion to commence the fresh voters registration, but paid back N21 billion and yet to balance N66.7 billion.
There was a N32 billion for the completion of 4th quarter and 3rd quarter of 2013 capital projects, N2 billion for the funding of Army operation in 2013, another N3 billion loan to INEC to speed up Electoral process in 2013, and N3.5 billion as loan to Nigerian Army for recruitment of 9,000 recruit in 2013.
As a result of the withdrawals and granting of loans as against what the funds were meant for, the auditor general raised a query as to the disbursements, which the Senate upheld.
The auditor general’s report in its query against depletion of Special Funds said, “Amount totaling N455 billion were withdrawn from Development of Natural Resources as loans to various beneficiaries between 2004 and 2015, contrary to the established objectives of the funds.
“The purpose of the Development of Natural Resources Fund is to provide financial resources to development alternative mineral resources Development. The Development of Natural Resources Fund belongs to the federal government.
“Also, various amounts totaling N210.3 billion were withdrawn from stabilisation fund as loans to various beneficiaries, between 2004 and 2015 contrary to the established objectives of the funds.
“The purpose of the stabilisation fund is to provide for unforeseen contingencies and economic downturn and the beneficiaries are the 36 states and Federal Capital Territory (FCT). The stabilisation fund belongs to three tiers of government,” the senate said.
