Reps indict NNPC, others on extra-budgetary spending, TSA violations

The House of Representatives yesterday indicted the Nigerian
National Petroleum Corporation (NNPC) of extra-budgetary spending
while other Ministries Departments and Agencies (MDAs) were accused
of violating the Treasury Single Account (TSA) policy of the
Federal Government.

This was sequel to the adoption of the recommendations of the ad
hoc committee hoc committee on the need to ascertain the proceeds
of the TSA to enhance transparency, accountability and good
governance.

“The committee discovered some extra-budgetary spending from the
information submitted by the NNPC; Brass LNG received an
appropriation of $511.60 million, while the actually release was
$461.54 million during 2012-2017 fiscal years,” the report
said.

Subsequently, the Green Chamber mandated the Ministry of Finance
(MoF) , the Office of the Accountant General of the Federation
(OAGF) and the Central Bank of Nigeria (CBN) to intensify efforrs
to enforce full implementation and compliance to the Treasury
Single Account (TSA) policy by all MDAs.

The committee headed by Hon. Danburam Abubakar recommended that
all MDAs that have violated the policy should be sanctioned
accordingly.

“During the course of the investigations with various
stakeholders, overwhelming discoveries were made.

“It was observed funds belonging to the Federal Government to
the tune of billions of Naira and hundreds of millions of Dollars
were operated outside the TSA by the MDAs in collaboration with the
banks,” the panel said.

The committee therefore recommended the suspension of of
payments outside the TSA policy and that applications for
exemptions/waivers of all or any MDA must follow the guidelines on
TSA policy.

The lawmakers also agreed that all exemptions/waivers granted to
MDAs outside the TSA policy be declared illegal and fraudulent.

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