NGF

NGF seeks probe of ‘missing’ $49.8b

The Nigerian Governors’ Forum (NGF), led by Rivers State Governor Rotimi Amaechi, yesterday urged the National Assembly to hire a reputable international audit firm to probe the alleged missing $49.8 billion (N8.5 trillion).

Central Bank of Nigeria (CBN) Governor Lamido Sanusi Lamido recently alerted the nation to the missing money. But the Minister of Finance and Coordinating Minister of the Economy, Dr Ngozi Okonjo-Iweala, disagreed.

Reading the communique at the end of the forum’s meeting in Abuja, Amaechi noted that the declining revenue accruable to the government was not unconnected with financial diversions.

He said: “… on the missing $49.8 billion (N8.5 trillion) or equivalent of two years national budget, there is no evidence that this amount was paid into the Federation Account or duly appropriated.

“We call on the National Assembly to institute a comprehensive independent forensic audit by an international reputable firm. We fear that the recent decline of state revenues is not unconnected with the financial diversion.”

The governor stressed that the Federal Government breached the Fiscal Responsibility Act by failing to consult with states before forwarding it to the National Assembly.

He said the National Economic Council (NEC) meeting had not held in the last four months.

Amaechi said: “In clear breach of Section 11, Part II of the Fiscal Responsibility Act, 2007, which requires the Federal Government to hold consultations with states before the Medium-Term Expenditure Framework (MTEF) is laid before the National Assembly, consultation with states on the MTEF and Fiscal Strategy Paper (2014-2016) did not hold.”

“The NEC meeting, where issues of this nature would have been discussed, last held four months ago.”

The NGF chairman decried the violence and killings in Borno State and the attack on the father of the Kano State governor.

On last Sunday’s attacks in River State, the governor said: “We condemn the flagrant violation of the rights of citizens to assemble in Rivers State by the police; the excessive use of force against unarmed citizens and the shooting of Senator Magnus Abe.”

The forum chairman decried the precarious state of the nation’s polity and finances.

He said: “The financial irregularities relating to public accounting; the lack of compliance with the Fiscal Responsibility Act, 2007, and security breaches are not unconnected with the refusal of the Federal Government to convene meetings of statutory institutions created in the Constitution, such as the National Economic Council (NEC), the Council of State, the Nigeria Police Council and meetings of the Federation Account Allocation Committee (FAAC).

“We urge a return to the path of constitutionalism,” the governors said

Governors at the meeting were from Rivers, Edo, Imo, Adamawa, Ekiti, Lagos, Nasarawa (deputy), Kwara (deputy), Zamfara (deputy), Kano (deputy), Jigawa (deputy).