{"id":81159,"date":"2021-05-25T23:13:11","date_gmt":"2021-05-25T22:13:11","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=81159"},"modified":"2021-05-25T23:13:11","modified_gmt":"2021-05-25T22:13:11","slug":"n2bn-recovery-funds-malami-borrowing-without-budgetary-approval-says-reps","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/n2bn-recovery-funds-malami-borrowing-without-budgetary-approval-says-reps\/","title":{"rendered":"N2bn Recovery Funds: Malami borrowing without budgetary approval says Reps"},"content":{"rendered":"<div id=\"m#msg-f:1700769224273135235\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">The House of Representatives ad hoc Committee on assessment and status of all recovered loots, and immovable assets from 2002 to 2020 on Tuesday accused the Attorney General and Minister of Justice, of borrowing the sum of N2billion assets recovery funds without budgetary approval.<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div dir=\"auto\">\n<div dir=\"auto\">\nThe Committee chaired by Adejoro Adeogun (APC, Ondo) also frowned at the reckless utilization of the recovered looted funds as it lambasted the AGF of lending huge sums of money to government agencies without due process.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The following observations were raised at the resumed hearing of the investigative hearing of the aforementioned Committee when it engaged the Attorney General and Minister of Justice, Abubakar Malami and the Acountant General of the Federation (AGF).<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Meanwhile, the Committee also queried the disappearance of the \u20ac5 million recovered looted funds, saying it did not reflect in the AGF account.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Similarly, the Committee further fingered the National Security Adviser\u2019s office of keeping a separate recovered loots account to the tune of $6.21billion as against the constitutional provision.<\/p>\n<p>However, Malami who obviously got agitated by the series of questions thrown at him by members of the panel during the hearing denied any wrong doing and insisted the money collected by his office went through due process.<\/p><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">According to him, \u201cThe office of the Attorney General had never at anytime received funds or a penny from the recovered assets account.<\/div>\n<div dir=\"auto\">\n&#8220;The money you (Committee) are referring to was dully approved for by the Ministry of Finance and the Accountant General\u2019s office through budgetary provision to pay solicitors and other activities\u201d.<\/p>\n<p>Furthermore, the Committee tackled the AGF for opening separate accounts for recovered looted funds besides the four accounts he mentioned during his submission.<\/p><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In his explaination the AGF said, \u201cWe opened the accounts, we run the accounts, we are custodian of the accounts but only Mr. President has the absolute powers to direct on the expenditure of the accounts. All the accounts are linked to TSA.&#8221;<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">He continued, \u201cThere are four recovery accounts but in addition we also have dollars accounts, pounds, and Euro accounts. Main Assets account, final forfeiture account, interim account. For guidance of the Committee, the list is attached to my documents which I have submitted to the committee.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cBy tomorrow, we would be able to give you update on who spent what and on what. I insist, we would make available our response tomorrow\u201d.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Although the Committee sharply disagreed with the AGF and accused him of hoarding information from the Committee as a member of the Committee moved for a motion in that regard but it was stepped down at the plea of the chairman, Mr. Adejoro Adeogun.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The Chairman in his closing remarks appealed: \u201cI will appeal that hence the Accountant General is requesting for more time, let\u2019s give him more time\u201d.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The House of Representatives ad hoc Committee on assessment and status of all recovered loots, and immovable assets from 2002 to 2020 on Tuesday accused the Attorney General and Minister&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":61013,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-81159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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