The Senate has asked the Nigerian Ports Authority to refund the sum of $37.67 million to the Federal Government coffers having discovered lack of diligence in the review of the agency’s charges on a contract of towage services.
The upper chamber said the non-remittance of N67.51 billion for 2013 and 2014 into the consolidated revenue fund (CRF), being 25 percent of its internally generated revenue (IGR) contravened the Fiscal Responsibility Act 2007.
It added that the failure to remit capitalised interest to the CRF, “totalling” N99.71 million, between 2013 and 2014 contravened Rule 236 of the Financial Regulations.
In May 2021, the senate committee on finance had invited heads of 60 government-owned firms, including the ports authority, to explain the failure to remit various funds running into about N3 trillion to the federal government’s account.
In a statement signed by the Special Assistant (Press) to the Senate President, Ezrel Tabiowo, on Wednesday, the upper chamber mandated the Economic and Financial Crimes Commission (EFCC) to investigate the accounting officer under Rule 3112 (I and II) of the Financial Regulations.
The Senate demanded that the director-general who authorised the disbursement of contingency provision on the contract for the rehabilitation of Lagos Habour moles to the tune of N417,099,309.06 without federal executive council approval to be reported to President Muhammadu Buhari under Rule 3103 of the Financial Regulations.
It also directed the NPA to refund diverted funds of N1.08 billion, $2.30 million (N946.35 million), and €196,257.42 (N94.90 million) meant for the presidential implementation committee on marine safety and security (PICOMSS) to the account of the National Security Adviser (NIA) to the president.
The Senate said the funds were diverted contrary to a directive approved by FEC on February 21, 2007.
These are part of the 59 recommendations adopted by the Senate on the annual report of the auditor-general for the year ended 31st December 2015.
On unretired advances involving 39 ministries, departments and agencies (MDAs) to the tune of N2,296,567,084.37 billion, the upper chamber demanded the sanctioning of accounting officers of MDAs in accordance with the provision of rule 3124 of financial regulations.
It also called on the accountant-general of the federation, Ahmed Idris, a deadline of 90 days to identify and sanction officers responsible for the mismanagement of public funds to the tune of N54,151,360,000 billion ($274,280,000.00) as exchange loss on external loans.
The accountant-general is expected to report back to the senate committee on public accounts within ninety days.
In addition, the Senate gave another 90 days timeline for the office of the accountant-general of the federation to set in motion the process of recovery of internal loans made from other funds, which stands at N390,288,085,668.92 billion and to be paid back into the special funds accounts.
The source of the loans is from the Development of Natural Resources Account, Stabilization Fund Account, 25 percent Husked Brown Rice Levy, one per cent Comprehensive Supervision Scheme (CISS) Pool Levy, 15 percent Wheat Grain Levy, and 10 percent Rice Levy.
The upper also chamber directed the accountant-general of the federation to recover the sum of N378,879,674.99 tax revenue from Webb Fontaine Ltd and remit same to the Federal Inland Revenue Service within six months.
It also called for a review of all companies that were paid from the out-flow of one per cent CISS Account, which amounted to N39,557,671,843.97.