National
FG Has Not Paid Back Funds Borrowed From Recovered Looted – Finance Minister
The Minister of Finance and National Planning, Zainab Ahmed, on Thursday, disclosed that the federal government has been borrowing from recovered loots to fund the budget.
Ahmed added that the government has not been able to repay the loans.
The minister disclosed this when she appeared before the House of Representatives committee investigation recovered loots on Thursday.
Ahmed appeared before the house alongside the Accountant General of the federation, Ahmed Idris.
The Accountant-General and the minister were challenged for the withdrawals from the accounts without refunding the fund.
A member of the committee, Wole Oke said the government withdrew N19 billion from the EFCC recovery account and transferred it to the African Development Bank (AfDB) with evidence of budgetary allocation.
He added that the government also borrowed N20 billion to fund the budget of the Ministry of Defence.
“From the EFCC Account, you took N19 billion. You took a whole N19 billion from the EFCC account and paid an international organization. N19 whole billion is not remitted here. I am sure the accountant-general is familiar with this money. On what basis did you withdraw or transfer the money?”
The Chairman of the Committee, Adejoro Adeogun questioned the Accountant General for N150 million, which according to him is missing.
The committee also resolved to summon Godwin Emefiele, the CBN Governor, to explain the status of the accounts.
The committee adjourned till Friday
-
Politics6 days ago
South-South Govs Meet In Yenagoa, Urge FG To Review Power Situation
-
News3 days ago
Attack on nurse: Enugu Assembly moves to regulate activities of masquerades
-
Business6 days ago
Why CBN Banned Opay, Palmpay, Kuda Bank, Moniepoint From Boarding New Customers
-
Politics7 days ago
Kogi gov, Ododo used immunity to protect Yahaya Bello from EFCC arrest – Oshiomhole
-
Entertainment7 days ago
‘Disrespectful’ – Mr Macaroni slams Wizkid for shading Don Jazzy
-
Niger Delta6 days ago
RE: PROTEST AGAINST PAP BOSS DR DENNIS OTUARU, AN UNNECESSARY DISTRACTION THAT SHOULD NOT BE TAKEN SERIOUSLY.
-
Politics6 days ago
Former IYC Scribe Congratulates Hon. Maxwell Ebibai on Reappointment as Bayelsa Commissioner for Finance.
-
Politics6 days ago
Hon. Alapala Felicitates with Commissioners for successful inauguration and thank the governor for their appointments.