The Centre for Anti-Corruption and Open Leadership, CACOL, has called on the Accountant-General of the federation to urgently recover short-term loans it advanced federal ministries, departments and agencies from the Special Funds Accounts totaling N910 billion.
In a release issued by
CACOL and signed by Tola Oresanwo, the anti-corruption organization’s Director,
Administration and Programmes on behalf of its Chairman, Mr. Debo Adeniran, he stated,
“We received the news that the Senate Public Accounts Committee (SPAC) chaired
by Senator Mathew Urhoghide, which scrutinized the 2017 report of the Auditor
General for the Federation discovered the anomaly. According to the Auditor
General of the Federation (AuGF), query, loans and debts arising from Special
Funds Accounts totaling N910,039,557,742 showed that the balances remained
unpaid throughout the year even when they were meant to be short term”.
“It should be noted
that the Committee observed that there was a continuous abuse of the Special
Funds by the Executive arm of government as the withdrawals were continually
made for political expediency outside the purpose which the funds were meant
for. The Senate therefore ordered that all outstanding loans should be
recovered by the Accountant General of the Federation and evidence of recovery
presented to the Auditor General and Senate Public Accounts Committee within 60
days”.
The anti-corruption
Czar opined that “It is disheartening and demoralizing how public funds are
being mismanaged by the management of most of the MDAs. Inasmuch as we are not
against giving out such loans based on the exigencies of the time and paucity
of funds that may arise occasionally, the office of the Accountant General
ought to have scrutinized the purpose for which these short term loans were
sought before giving it out to the MDAs concern. There ought to be concrete
arrangements for repayment of the loans and penalties that payment default
would attract ought to be made crystal clear for the MDAs concern to know
before giving them these loans. In case of default, the loans ought to be
deducted from the appropriation to the MDA concerned in the following year’s
budget.
“As we have said
earlier, we have observed that there have not been serious punishment for
impunities like this hence civil servants and public officials who were
supposed to hold their position in trust for the members of the public and the
generality of Nigerians engaged in financial recklessness knowing fully well
that there will not be backlash for their actions. This trend is not peculiar
to the MDAs only, as both the 1999 Nigerian Constitution (as amended) and other
existing financial laws are either inadequate or contradictory in addressing modern
challenges posed by corruption in the country”.
The CACOL Boss further
enthused, “We want to commend the Senate Public Accounts Committee for
investigating the whereabouts of this huge sum of money and for giving a
marching order that all outstanding loans should be recovered by the Accountant
General of the Federation and evidence of recovery presented to the Auditor
General and Senate Public Accounts Committee within 60 days. We would also want
them to go beyond this order and ensure that all MDAs that defaulted in paying
back these loans are published, the amount being owed should also be deducted
from their next appropriation and their management should be made to face the
full wrath of the law in order to serve as deterrent for others.”
