The 2015 national audit report of Nigeria’s Auditor- General has revealed how former President Goodluck Jonathan transferred the foreign currencies recovered from an apartment in Ikoyi, Lagos to the National Intelligence Agency
The cash – $43 million, £27,000 and N23 million- was recovered after a tip-off from a whistle blower by the Economic and Financial Crimes Commission after a tip-off from a whistle blower in April, 2017.
An exclusive report from The Cable newspaper indicated that the recovered money was part of $289,202,382 taken from the account of National Petroleum Investment Management Services (NAPIMS) at CBN in February 2015 after the postponement of the general election.
NAPIMS, a subsidiary of the Nigerian National Petroleum Corporation (NNPC) which manages the JV investments of the national oil company.
TheCable reports that in the 2015 annual report, the auditor-general queried the “misapplication of joint venture cash calls for other purposes”.
The newspaper quoted the AGF as saying on pages 75-76 of the volume two of the 2015 report that during examination of the JVCC JP Morgan Chase Account and JVCC CBN Naira Account, it was observed that payments with amounts totaling $292,094,405.82 and N2,474,295,000.00 were made from the Joint Venture Cash call accounts for purposes outside the objectives for which the funds were provided for and thereby constituted misapplication of Federation Funds.
“These include: The payment in “Cash” of a total of $289,202,382.00 (N56,972,869,254.00 at 2015 year end rate of N197.00 to $1) to the Director-General, National Intelligence Agency. The Director General sought the President’s approval for the release of a total of $289,202,382.00 to the NIA for the procurement of 13 items of expenditure to enable NIA respond to the nation’s mounting diverse and complex security challenges.
“However, audit noted that there was no evidence of the President’s approval to the request other than a minute to the then Minister of Petroleum Resources seeking assistance from the NNPC Security votes. It was not clear from records/documents examined the authority that NNPC/NAPIMS relied on to disburse this fund.
The Auditor General also said in the report that following the directive of the former President, NNPC/NAPIMs did not make the payment to NIA official account, but rather directly to Ambassador Ayo Oke, the former DG of the intelliegence agency. AGF said the direct payment was irregular given the government’s e-payment policy and the huge sum involved.
“Audit further noted that this payment was not budgeted for meaning that it was extra-budgetary payment,” the Cable added in the report, quoting the Auditor General’s report.
Read more at The Cable EXCLUSIVE: Auditor-general reveals source of $43m Ikoyi cash