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OAuGF report: No record of funds recovered between 2016-2019
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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.
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Finally, IGP approves hunger protests across Nigeria
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The Nigerian police has finally approved the planned nationwide protests and outlined conditions for participants.
The Inspector General of Police, Kayode Egbetokun, revealed this on Friday while addressing journalists in Abuja.
He urged all groups planning to participate in the proposed nationwide protest to submit their details to the Commissioners of Police in their respective states.
The police boss said this was to ensure the protest was peaceful.
Egbetokun said, “We acknowledge the constitutional right of Nigerian citizens to peaceful assembly and protest.
“However, in the interest of public safety and order, we urge all groups planning to protest to provide necessary details to the Commissioner of Police in the state where the protest is intended to take place.
“To facilitate a successful and incident-free protest, they should please provide the following information: state the proposed protest routes and assembly points; expected duration of the protest; and names and contact details of protest leaders and organisers.”
The police boss said the information expected from the organisers also include measures to prevent hijacking by criminal elements, as well as key identifiers for possible isolation of potential troublemakers.
By providing the information, he said, the police will be able to deploy adequate personnel and resources to ensure public safety.
He said the police needed to know the specific routes and areas for the protest to avoid conflicts with other events or activities.
Mr Egbetokun said the police will “establish clear communication channels with protest leaders to address any concerns or issues that may arise; minimise the risk of violence, property damage, or other criminal activity.
“We encourage all protesters to cooperate with the police, obey the law, and adhere to global best practices for peaceful assembly to guarantee a safe and successful exercise of their rights.
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Reps North-West Caucus Beg Youths, Citizens In The Region Not To Join Planned Protest
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Reps Applaud FCT Minister, Wike On AICL Improved Revenue, Infrastructure
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