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Oriental News Nigeria
Home»News»Nigeria News»FG Uncovers Fresh N8.1 Trillion Fraud Under Previous Administration
Nigeria News

FG Uncovers Fresh N8.1 Trillion Fraud Under Previous Administration

By Orientalnews StaffMay 22, 2018No Comments3 Mins Read
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Yemisi Izuora 

The Minister of Information and Culture, Alhaji Lai Mohammed, has alleged that 

15 revenue generating agencies of the federal government failed to

remit N8.1 trillion to the Federation Account between 2010 and 2015.

The Minister made the disclosure in Osogbo, Osun State, on Monday

while commissioning the Channelization, De-silting, Flood Control and

Development of Okoko and Ogbagba Rivers, phases one and two, on behalf

of President Muhammadu Buhari.

He said the discovery by the auditing firm KPMG is many times worse

than the N1.34 trillion carted away by 55 public officials between

2006 and 2013.

“Recently, the Federal Government ordered an audit (between 2010 and

2015) of 15 government revenue generating

agencies. The result was the discovery that the agencies had not

remitted over 8.1 trillion Naira to the Federation Account. This

amount is about six times the 1.34 trillion Naira that was stolen

between 2006 and 2015.

”It is also the equivalent, on the average, of the country’s yearly

national budget! Imagine, for a moment, how many kilometres of roads

could have been constructed, how many kilometres of rail tracks that

could have been laid, and how many modern hospitals and schools that

could have been built if that money had been properly accounted for,”

Alhaji Mohammed said.

He told the mammoth crowd at the commissioning that the Buhari

Administration’s fight against corruption remains very

critical because it will free the much-needed resources for national

development.

The Minister said the projects being executed by the present

administration, including the one that was commissioned in Osogbo –

one of 53 being commissioned across the country – could have long been

completed but for the mind-boggling looting of the treasury by

previous administrations, which deprived the nation of infrastructural

growth

He said that every kobo that is not looted is a plus for development,

adding: ”This is why we will not stop talking about those who have

looted the public treasury, despite the pushback from their

apologists. If we do not stop the looting of the treasury, there will

be no money for the kind of projects we are commissioning here in

Osogbo today.”

Governor Rauf Aregbesola of the State of Osun corroborated the

Minister’s disclosure that 8.1 trillion Naira was unaccounted for by

15 revenue generating agencies, saying the share of his state from the

said amount is 75 billion Naira which, he said, would have been more

than enough to pay all civil servants their salaries and complete all

infrastructural projects of the government.

Speaking on the commissioned project, the Minister said this is the

first time the Ecological Fund Office is ever commissioning any

project and handing it over to the host community.

He said the triple project, which was one of the twelve 4th Quarter,

2016 ecological intervention projects across the six geo-political

zones approved by the President in October 2016, was due to the

perennial flooding which had claimed lives and destroyed property in

Osogbo Township.

”I have no doubt in my mind that the successful completion of these

projects would enhance the holistic solutions to soil erosion and

flood menace in Osogbo Town. This would at the same time reduce the

danger to lives and property associated with erosion and persistent

flooding that has been experienced here in the recent time,” Alhaji

Mohammed said.

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Orientalnews Staff

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