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[SITUATION] · [ACTIVE] · [POLITICS]

2 clusters · 12 sources · 7 days · First seen · Last updated

Nigerian legislative probes into government financial audits

Overview

The Nigerian House of Representatives Public Accounts Committee has initiated several investigations into government agencies following audit reports from the Auditor-General for the Federation.

Initial inquiries focused on alleged financial breaches totaling over 802.19 billion naira involving the Nigerian National Petroleum Company Limited (NNPC), the Independent National Electoral Commission (INEC), and the Hydrocarbon Pollution Remediation Project (HYPREP). Specifically, HYPREP faced an ultimatum to explain the alleged mismanagement of over 400 billion naira intended for the Ogoni cleanup, including issues such as irregular contract awards and failure to submit accounts.

Subsequent investigations expanded to include the Debt Management Office (DMO) and the Transmission Company of Nigeria (TCN). The committee is examining allegations that the DMO exceeded approved borrowing limits by 54.57 trillion naira between 2020 and 2024, contracting loans totaling 88.67 trillion naira despite an allocation of only 34.89 trillion naira for debt financing.

Entities

Bamidele Salam · House of Representatives Public Accounts Committee · Debt Management Office · Independent National Electoral Commission · Hydrocarbon Pollution Remediation Project

Timeline

  1. [POLITICS] 3 sources
    Nigeria House of Representatives to probe DMO and TCN over N54.57tn borrowing excess

    Nigeria's House of Representatives will question the DMO and TCN over alleged N54.57tn in unauthorized borrowing and debt irregularities identified in the 2024 Auditor-General’s report.

  2. [POLITICS] 11 sources
    Nigeria House of Representatives probes N802bn in audit breaches

    Nigeria's House of Representatives is investigating massive audit breaches, including a 400bn naira mismanagement probe into HYPREP and 802bn naira in queries involving NNPC and INEC.

Sources

blueprint.ng · businessday.ng · kapitalfm.gov.ng · newscentral.africa · newtelegraphng.com · premiumtimesng.com · primanews.org · punchng.com · tgnews.com.ng · theglittersonline.com.ng · tribuneonlineng.com · von.gov.ng