N12Bn Unaccounted Assets Recovery Fund: House Of Reps Queries AGF

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BY VICTOR BUORO, ABUJA – The House of Representatives has summoned the Governor of the Central Bank of Nigeria (CBN) and the Accountant General of the Federation (AGF) over unaccounted recovery funds to the tune of about 12 billion naira.

The House of Reps through its Ad-Hoc Committee on assessment and status of all recovered loots and immovable assets from 2002 to 2020, also summoned the heads of the Economic and Financial Crimes Commission (EFCC), Ministry of Finance, Independent Corrupt Practices Commission (ICPC), Nigeria Security Civil Defence Corps (NSCD) for shunning the Committee’s invitation.

The Committee, chaired by Hon. Adejoro Adeogun (Ondo, APC) expressed displeasure over what it described as the lackadaisical attitude displayed by Heads of agencies of the Federal Government whenever they are summoned to explain certain issues.

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Hon. Adeogun noted that whenever the heads of Ministries, Departments and Agencies of government are invited by the legislature to defend their budget they hardly shy away as they appear personally, but the story is different wherever they are requested to defend what they have been given or account for what they have spent.

Adeogun noted that a letter signed by the Director of funds, Mr. Sabo Mohammed, clearly showed that N15. 5 million was paid into the Assets Recovery Account between January 14 and 15, 2020, adding that a further check in the account details as presented by the Accountant General of the Federation, did not reflected in the account.

According to him; “Another document signed by Sabo Mohammed for the Accountant General of the Federation (AGF) office, showed that N15. 47 million was paid into the AGF account whereas there is no trace of such funds in the account”.

It was also gathered that there are other transactions amounting to N12 billion unaccounted funds by the office of the Accountant General of the Federation and the Central Bank of Nigeria.

The House of Reps Committee also noted that statement of account as presented by the Accountant General’s office by the Director of Assets Recovery Unit does not tally with statement of account presented by Central Bank of Nigeria.
The House of Reps Committee further said; “We discover huge sum of money to be missing. We are querying the account details as submitted by the Accountant General Office since no receipt of such funds is recorded in the CBN account details”.

In his own remarks, Hon. Wole Oke (PDP, Osun) moved a motion demanding that the Chief Accountant of Federation should appear in person due to the issues raised.

Accordingly, chairman of the committee, Hon. Adeogun directed that the Accountant General and the Attorney General of the Federation and Minister of Justice to appear before the panel on Tuesday, May 25, 2021 by 10:00am in person, stressing that the issues raised are cogent.
The Committee also directed that the Chairman of the EFCC should appear before the Committee unfailingly on Wednesday.

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