News
OAuGF report: No record of funds recovered between 2016-2019
The Central Bank of Nigeria (CBN) has no records of monies recovered by the Economic and Financial Crimes Commission (EFCC) between 2016 and 2019 as required.
This is according to the Office of the Auditor General for the Federation (OAuGF) in its 2020 Audited report of government finances.
The report, dated November 30, 2023, was submitted to both chambers of the National Assembly through the Clerk.
The OAuGF said the last time the CBN recorded an inflow of recovered funds into the federation accounts was December 2015.
It also said that the Recovered Funds component of foreign exchange inflows into the Federation Account of $40,502,645.06 was last reported in December 2015.
Such inflows were not reported between 2016 and 2019, says the report, adding that there were no documents to justify the non-recognition of recovered funds between 2016 and 2019.
In its management response, the CBN said: “There was no inflow for the period January 2016- December 2019.
In its management response, the CBN said: “There was no inflow for the period January 2016- December 2019.
“However, a review of the account showed credit interest for the period.”
The report asked the Public Account Committees of the Senate and House to request the CBN governor to justify the non-recognition of recovered funds for the years 2016 to 2019.
However, a review of the account showed credit interest for the period.”
The report asked the Public Account Committees of the Senate and House to request the CBN governor to justify the non-recognition of recovered funds for the years 2016 to 2019.
The report queried what it called an unjustified decrease in foreign reserves of the country between 2017 and 2019.
“Audit observed from the review of CBN Summary of Monthly Foreign Exchange Cash flows that Foreign Reserves which stood at $42.594 billion as at December 2018 decreased to $38.092 billion in December 2019, and there were documents to justify the decrease,” the report says.
The Auditor General also reported a decrease in foreign exchange earnings of about $2,667,269,011.33 in 2019 as contained in the CBN summary of monthly foreign exchange cash.
The Auditor General also said in 2020, the CBN made deposit placements with First Bank of Nigeria (FBN) United Kingdom (UK) Ltd, London amounting to US$134,507, 155.20, split into two tranches of $59,029,548.09 and US$75,477,607.11 to circumvent the provisions its Guidelines on offshore deposits.
The Ondo State Police Command has said that the convoy of the President’s wife, Senator Oluremi Tinubu, was not involved in an auto crash that led to the death of a seven-year-old girl in Akure, the state capital on Thursday, April 17, 2025.
The spokesperson for the Command, Olusola Ayanlade, in a statement, said the president’s wife was on a visit to the state on Thursday to distribute empowerment kits and equipment.
“Eyewitness accounts and preliminary investigations conducted by the Ondo State Police Command have confirmed that the incident was caused by a hit-and-run driver operating an unregistered white Lexus vehicle — not by any vehicle belonging to or associated with the First Lady’s convoy,” the police said.
The statement further said, “A witness who observed the hit-and-run pursued the fleeing vehicle on a motorcycle immediately after the incident, which occurred around the Oba Ile area of Akure. These accounts have been corroborated by several individuals at the scene as well as by the parents of the deceased.
“The Commissioner of Police, Ondo State Command, was personally present and met with the grieving family to ensure a full and transparent investigation. At no point was the First Lady’s convoy involved in this tragedy.
“The command commiserated with the bereaved family and urged the general public to cooperate with us as we bring the perpetrator of the hit-and-run to justice.
Former DELSU VC, Sowore, Deji, other activists hit hard at Agbor Nursing School provost as query to student nurse goes abuzz on social media
“Also, we urge anyone with any useful information to please come forward or report to the nearest police station or security post nearest to them while we hunt for the killer
Credit: Channels Television
Several persons have lost their lives in another terrible accident that occurred on Karu Bridge, inward Karu Site, Abuja on Friday.
According to Daily Post report, the accident was caused by a truck laden with cement which failed its brakes while descending the Kugbo hill.
It was gathered that the truck, after crushing about several vehicles and their occupants, attempted to escape but was intercepted around Karu Roundabout by commercial motorcyclists.
The accident came barely a month after a similar fatal accident occurred on the same Karu Bridge in March, when a Dangote trailer powered by CNG lost its brakes, crashed into several vehicles and claimed multiple lives.
More details to follow
-
News13 hours agoTinubu Remains Engaged In Governance From Europe, Will Return After Easter – Presidency
-
News22 hours agoAbuja light rail project must be commissioned on May 29-Wike vows
-
News23 hours agoJust in: Alleged Herdsmen Armed With AK-47 Rifles Take Over Communities In Benue State
-
News13 hours agoFirst Lady Convoy Kills Seven-Year-Old Girl In Ondo State
-
News23 hours agoSEYI Tinubu Speaks On Alleged Abduction, Brutalization Of NANS President Atiku Abubakar Isah
-
Foreign13 hours agoTrump To Close US Embassies In South Sudan, France, Others
-
News4 hours ago
Emergency Rule: We should be thankful to President Tinubu -Wike
-
News12 hours agoNJC investigates 18 Imo judges over suspected age falsification