By Samuel Ogidan
Following the query by the Auditor-General to the Federation (AGF), the House of Representatives has ordered the Executive Secretary of Nigeria Investment Promotion Commission (NIPC), Yewande Sadiku to return unremitted N477million to the Consolidated Revenue Fund.
According the query, the money was part of Internally-Generated Revenue (IGR) generated between 2013 and 2014.
The House Committee on Public Accounts (PAC), which gave the directive, also ordered that the officers in charge of NIPC during the said period should be prosecuted by the Economic and Financial Crimes Commission (EFCC) immediately.
The committee chaired by Hon. Kingsley Chinda, (PDP, Rivers) noted that the infractions raised by the AGF cannot be ignored, following the observation by the lawmakers.
Responding to the allegation, the Executive Secretary explained even though she would not dispute the position of the AGF, but she was not in charge when the infractions were committed.
She further explained that, “at a particular period the commission was over debited with about N290m and the Accountant-General to the Federation office have promised to make a refund.
“This must have probably accounted for why there is a shortfall of N477m and when a refund is made amendments could be effected.”
Angered by her response, the Deputy Chairman of the committee, Hon. Ibrahim Baba, pointed out that “NIPC is not a private company and the money in question belongs to the federal government because what you remitted is actually 25 per cent of your annual earnings.”
Hon Chinda, in his ruling, said: “N477 million being IGR for 2013-2014 was not remitted to the Consolidated Revenue Fund and we have no other option than to uphold the AGF’s audit report.
“We are also referring this matter to the anti-graft commission to further dig deep into this matter and report to the clerk of this committee within 60 days.”
Reps order NIPC boss to return N477m to FG
