A report by the Paradigm Leadership Support Initiative has unveiled that N3.5 trillion was unaccounted for by various government agencies.
The organization highlighted issues from the 2021 audit of the Nigerian Government.
A total of N2.9 trillion was unaccounted for due to unrecovered outstanding revenue/debts. According to the report, N7.4 billion was unaccounted for due to irregularities in awarding contracts, N115.8 billion due to irregular payments, and N167.6 billion due to payments for unexecuted jobs/contracts.
Under-deduction of taxes amounted to N129.3 million, while non-deduction reached N2.6 billion, and non-remittance stood at N11.6 billion.
Payments lacking supporting documents totaled N8.3 billion, violations of the federal government’s e-payment policy amounted to N18 billion, and misapplication of funds was N663.9 million.
Funds unaccounted for due to lack of due process in awarding contracts amounted to N20.3 billion. Unaccounted expenditures were N122.5 billion, and recovered tax liabilities by the Federal Inland Revenue Service stood at N69.9 billion.
Store items not taken on ledger charge amounted to N968.9 million and extra-budgetary expenditures amounted to N15.8 billion.
Virement without approval amounted to N2.6 billion, non-remittance of internally generated revenue amounted to N6.6 billion, circumvention of procurement process amounted to N1.9 billion, denial of access to documents amounted to N21.5 billion, while unretired cash advances amounted to N1.3 billion.
Payment without paid vouchers amounted to N1.1 billion, payment without pre-payment audit amounted to N4.7 billion, engagement of external solicitors without attorney general’s fiat amounted to N243.9 million, payment to third party without power of attorney amounted to N439.7 million, award of contracts above thresholds amounted to N2.4 billion, illegally custody of government vehicles amounted to N747.7 million, payment without revalidation of paid vouchers amounted to N403.2 million, while splitting of contract to circumvent procurement/approval threshold amounted to N731.2 million.