The Ministry of Niger Delta to face investigation over alleged N423 billion fraud under former Presidents Umaru Yar’Adua and Goodluck Jonathan (2009 to 2015).
The investigation which is an order from the federal government, was made public on Wednesday, May 31st, 2017.
According to Punch, Minister of the Niger Delta, Usani Uguru, who revealed this while speaking at the just concluded Federal Executive Council meeting in Abuja, said that there were several awarded contracts for infrastructures to be built in the Niger Delta region but never saw the light of the day.
Uguru further stated that the sum of N423 billion out of the N700 billion voted for contracts was given by the federal government for various projects within the region but not completed project is on ground yet. Thus, why the investigation becomes pertinent.
“The revealing content of the report shows that over N423 billion has been expended in the region by the ministry alone, not other intervening agencies. From this amount, project execution rate has been at 12percent, with an average completion rate of a project standing at five years. And the impact rate is 8percent.
“So, today we have sought approval from Council to have the recommendations of this report conveyed to the legitimate agencies charged with the statutory responsibilities of recovering government assets that are either misappropriated, misused or found to be idling in some quarters.
“With this, it means all those who have accessed government resources for one purpose or another must be compelled to make adequate use of same otherwise face the recommendations that go with such violations, and that is our position concerning that report.
“And we have got Council approval for that. It’s also important to place emphasis on the fact that in the region of 60per cent resources in terms of funds had been paid out to contractors with that 12per cent completion rate.
“When we say 60per cent, it is 60per cent of the amount of money that was actually appropriated, being N700billion. And so, 60per cent of that constitutes N423 billion. So, to find that N423 billion has been expended in the region with the type of result we see obviously shows that there is something tangibly and obviously wrong with how procurement had been carried out in the ministry.”
SEE ALSO: AT LAST!!! SENATE LEGALIZES NFF (OPEN)
Got a news tip/information for us? Email email@example.com
Follow us on twitter @thesheetng
BBM Channel: C0042057A
Like us on Facebook @ www.facebook.com / The Sheet
This is a 2017 Copyright of thesheet.ng. You may wish to request express approval from thesheet.ng to republish.