Embezzled N33bn Emergency Fund, NASS Report indicts VP,
Vice President Yemi Osinbajo has been indicted by House of Representatives for illegally approved the release of the sum of N5, 865, 671, 939.26 in June 2017 from the Consolidated Revenue Fund Account which was allegedly mismanaged by the National Emergency Management Agency (NEMA).
The House’s indictment was based on findings from a thorough investigation by the Hon Ali Isa J.C House Committee on Emergency and Disaster Preparedness was adopted by the House of Representatives after being considered in the Committee of the Whole on Thursday.
The House noted that the authorisation of the release of the fund for emergency food intervention of food security in the North East contravenes Section 80(4) of the 1999 Constitution as amended states that, “No money shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the federation, except in the manner prescribed by the National Assembly”.
Similarly, it also breached 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 funds were paid as follows for supply of food items: Dangote Rice Ltd N936, 196, 800; Golden Agric Input Ltd N1, 384, 554, 236; BUA Rice Ltd N1, 322, 273, 520; WACOT Ltd N453, 674, 296; WACOT Ltd N939, 946, 089; NEMA N829, 026, 456.
The lawmakers agreed that the authorization granted for the withdrawal of such huge sum of money from the Consolidated Revenue Fund Account was highly flawed and had infractions on Section 80(2) of the Constitution and Section (2) of the Procurement Act, as well as provisions of the Appropriation Act, did not follow due process as taxes and interest accrual to the government were not deducted or remitted to FIRS and no meeting held by the Federal Executive Council to approve the contracts. Furthermore, the funds were credited directly to the individual banks of the companies and NEMA bank account, a violation of the approval limit allowed by law.
Out of the N5.8 billion, NEMA got N829, 026, 456 for logistics and claimed it spent N369.5 million on general logistics, N189 million on branding and packaging, N248.6 million on branding and packaging and N21.9 million on contingency.