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Reps indict Osinbajo over “illegal approval” of N5.8bn

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Reps indict Osinbajo over “illegal approval” of N5.8bn

The House of Representatives has indicted the Vice President, Prof. Yemi Osinbajo over the illegal approval of mismanaged N5.8 billion North East IDP Intervention fund.

Backstory: The Vice President was found to have contravened the constitution when he approved the release of N5.8 billion in June 2017 from the Consolidated Revenue Fund Account.

An investigation conducted by the House Committee on Emergency and Disaster Preparedness, led by Hon Ali Isa J.C, was adopted by the House of Representatives after being considered in the Committee of the Whole on Thursday, November 8th.

  • The House noted that the authorization and release of the funds contravened Section 80(4) of the 1999 Constitution which states that: “No money shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the Federation, except in the manner prescribed by the National Assembly.”
  • Osinbajo’s approval was in breach of the provision that the National Assembly must approve all issuance of Euro Bond from which the Minister of Finance and the Accountant General of the Federation directed the Central Bank of Nigeria to pay from.
  • The authorization for the withdrawal from the Consolidated Revenue Fund Account was highly flawed, and not in line with the Appropriation Act. Due process was not followed as taxes and interest accruable to the government were not deducted or remitted to FIRS, and no meeting was held by the Federal Executive Council to approve the contracts.
  • The funds paid to some companies to supply food items, as well as to NEMA, were credited directly to the individual banks of the companies in direct violation of the approval limit allowed by law.

Recommendations: The House called for the dismissal and prosecution of the Director General of NEMA, Engr Mustapha Maihaja over fraud, corruption, and embezzlement of N33 billion Emergency Intervention Fund, as well as all the government officials involved in the approval, processing, release, and diversion of the funds.

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