EFCC Recovers Over N1bn Cash From A Civil Servant Bank Account

The Chairman of Financial and Monetary Crimes Fee (EFCC), Abdulrasheed Bawa, Thursday disclosed that the Anti-graft company final week recovered over N1 billion money sitting in a single checking account from a Civil Servant.

Bawa made the disclosure whereas showing earlier than the Senate Committee on Finance, investiating the Internally Generated Income (IGR) and fee of 1 % stamp responsibility by contractors on all contracts awarded by MDAs between 2014- 2020.

There are numerous leakages we have to block, it’s not about producing income, now we have recovered over a billion from civil servant sitting in an account final week”, he mentioned.

He nonetheless applauded the Senate Committee of Finance on investigations being carried out on internally generated revenues of MDAs and the fee of 1% Stamp Responsibility by contractors on all contracts awarded by MDAs between2014-2020.

After observing the proceedings and the method of investigation of the Committee, I’m proud of what is occurring right here. It’s a good growth that the committee is working in direction of blocking income leakages.

” At this level within the nation’s historical past, it’s not a lot about producing income as a lot as blocking leakages of income generated and nonetheless being generated by all these businesses of presidency” he said.

Bawa mentioned he would have been completely happy to go away with one of many heads of businesses instantly from the revelations that the Committee unearthed in course of observing the paperwork offered by the company stressing that he can be able to associate with the committee as the method goes on and hopefully get the report of the committee for additional motion.

As a part of setting instance for blockage of leakages, he said that since his assumption of workplace, he has created four new departments in EFCC, two of which, particularly the Procurement Division and the Inside Audit to make sure that due course of is adopted and there are not any audit queries including that different MDAs can copy the template of EFCC.

The Chairman of the committee, Senator Olamilekan Adeola ( APC Lagos West) , had earlier enunciated that the main target of the investigation is knowledgeable by the necessity to curb recurrent federal price range deficit and the resort to borrowing whereas businesses of presidency earn and infrequently frivolously spend generated revenues of presidency including that thus far the committee had made progress with many businesses paying again unremitted revenues within the tens of thousands and thousands with treasury receipts to point out.

“It’s clear that we are able to now not proceed to run authorities as enterprise as common with some businesses not audited for over years, businesses amassing funds for expenditures throughout price range course of with out declaring income they’re bringing to the desk.

The follow is for them to spend generated authorities revenues illegally whereas nonetheless amassing funds from the federal government that needed to resorts to borrowing to fund them” , he mentioned.

In course of the sitting, the Federal School of Schooling, Okene was ordered to pay again to the Consolidated Income Fund of the Federation the entire sum of N242 million it generated and spent opposite to the 1999 Structure and the Fiscal Accountability Act, 2007 inside 5 months.

Additionally, following a tripartite committee of the Accountant Normal Workplace, the Fiscal Accountability Commision(FRC) and the Nigeria Electrical energy Regulatory Fee(NERC) fashioned by the Committee, the account of NERC was reconciled with N888million excellent to be paid to CRF by NERC.

Different businesses that appeared earlier than the committee for the day are Nigerian Communication Fee, NCC, Federal Medical Centre, Yenegoa, Nigeria Movie Company, Federal Neuro Psychiatric Hospital, Calabar and the NNPC amongst others with some cleared whereas others have been requested to supply further documentation.