Wednesday, 6 September 2017

Filled Under:

How Nigerian Embassy in Israel squandered N332 million, $493,111, in two years – Audit Report

How Nigerian Embassy in Israel squandered N332 million, $493,111, in two years – Audit Report
The Nigerian embassy in Israel mismanaged funds totalling $493, 111 and another N331 million (N331,461,392) of the total revenue generated and received between 2013 and 2015, an audit report reviewed by PREMIUM TIMES reveals.

The annual report of the Auditor-General of the Federation for the year ended 2015, said the embassy could not account for the funds in its records submitted for review.
A total sum of $858,704 (3,091,337 Shekels) was reportedly generated as revenue in respect of visas and administrative charges in the period under review, but only $365, 593 was remitted into the designated account, the report, the latest from the Auditor General revealed.
During the same period, the embassy was granted Authority to Incur Expenditure, AIE, in the sum of N517,247,500.
However, only N185, 786, 171 was accounted for by the embassy.
The report noted that this development has left the embassy with a deficit of $493, 111 and N331, 461, 392 which the permanent secretary ‘was unable to explain.’
DEFICITS AND IRREGULARITIES
The report gave further details of its findings.

 Read More 


0 comments:

Post a Comment

Popular News