- A report from the auditor-general of the federation states that there was no official documentation for the official release of $289,202,382 to the National Intelligence Agency (NIA)
- The document shows that the normal processes of approval and authorisation for the release of government funds were not followed by the NIA director-general, Ayodele Oke, at the time
- The whistle-blower who provided information to EFCC that helped with the recovery of $43m, N23.2m and £27,800 (N13bn) reportedly receives payment from the federal government
A report by the auditor-general of the federation has disclosed that the huge sum of money found at a residence in Ikoyi, Lagos state, was taken from Nigeria’s joint venture (JV) cash call account at the American bank, JP Morgan Chase.
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According to the report which was cited by the Cable, there was no official documentation for the official release of $289,202,382 to the National Intelligence Agency (NIA) - which claimed the $43 million found at the residence was the balance from the money it received for “cover projects”.
The findings stated that the normal processes of approval and authorisation for the release of government funds were not followed by the NIA director-general, Ayodele Oke, at the time
The report read in part: “During the examination of the JVCC JP Morgan Chase Account and JVCC CBN Naira Account, it was observed that payments with amounts totaling $292,094,405.82 and N2,474,295,000.00 were made from the Joint Venture Cash call accounts for purposes outside the objectives for which the funds were provided for and thereby constituted misapplication of Federation Funds.
“These include: The payment in “Cash” of a total of $289,202,382.00 (N56,972,869,254.00 at 2015 year end rate of N197.00 to $1) to the Director-General, National Intelligence Agency. The Director General sought the President’s approval for the release of a total of $289,202,382.00 to the NIA for the procurement of 13 items of expenditure to enable NIA respond to the nation’s mounting diverse and complex security challenges.
“However, audit noted that there was no evidence of the President’s approval to the request other than a minute to the then Minister of Petroleum Resources seeking assistance from the NNPC Security votes. It was not clear from records/documents examined the authority that NNPC/NAPIMS relied on to disburse this fund.
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“Audit noted that, of NNPC/NAPIMs did not make the payment to an identifiable NIA official account, but rather mandated the CBN to make the payment in Cash to the DG, in spite of government’s e-payment policy and the huge sum involved. This was highly irregular.
“Audit further noted that this payment was not budgeted for meaning that it was extra-budgetary payment."
Meanwhile, the whistle-blower who provided information to the Economic and Financial Crimes Commission (EFCC) that helped with the recovery of $43m, N23.2m and £27,800 (N13bn) has reportedly received payment from the federal government.
The federal government in its new whistle-blower scheme had promised to pay 5% to anyone who provides information that will lead to the recovery of monies from crime proceeds.
The Punch report that Yakubu Galadima who is the lawyer to the whistle-blower confirmed on Wednesday, December 13, that his client has received part of the commission from the federal government.
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Source: Naija.ng