Follow Naijacrux on twitter .follow us on Twitter www.twitter.com/Naijacrux , or @Naijacrux or search for Naijacrux!!Like us on facebook .Like us at www.facebook.com/Naijacruxforum.Click Here To Last longer In Bed[Stay amused>>>Don’t be a one minute Foul]>>> Love need Tips-See how Here


Author Topic: Nigerian FG recovers N1.6 Billion illegal bank charges from commercial bank  (Read 9272 times)

0 Members and 1 Guest are viewing this topic.

Offline yungcrux

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 1154
  • Karma: +0/-0
Loading...


N1.6b illegal bank charges has been recovered from one of the many branches of one money deposit bank, Minister of Finance, Kemi Adeosun told the House of Representatives on Thursday.



Adeosun, who said the recovery was made possible by the Treasury Single Account (TSA), added that other branches of the unamed bank would go through the same process.

According to her, the fund was illegally taken by banks as excess charges on the accounts they maintained for government agencies in the pre-TSA era.

Speaking during an investigative public hearing into the status of TSA by the Abubakar Danburam-Nuhu (APC-Kano)-led Ad-hoc Committee, the Minister also disclosed that another N600m was recovered from some money deposit banks in continuation of the TDA policy.

She said that the level and nature of the operations of the recoveries required the expertise of consultants which made the discoveries posibble.

She said: “In one branch of a bank, we recovered N1.6b in just one branch. There are many other branches.

“You are looking at the many accounts holding government money before the TSA started. There is a lot,” the Minister observed.

On the recovered N600m, Adeosun said it was recovered as part of the ongoing mopping up of government funds in accounts still being traced, adding, “We got the N600m recently, which was for charges by these banks. It was returned and we are still on it.

“The TSA had been implemented almost 100 percent by the MDAs, though there are a few accounts still outside the system were being followed up”.

She also said some accounts operated by Nigerian National Petroleum Corporation (NNPC) and West African School Certificate (WAEC) were exempted from the TSA because of the nature of their operations.

On the engagement of Consultants for recoveries while the Office of Auditor General of the Federation (AGF) has competent hands, the Minister explained that Consultants are engaged because their engagement assisted in achieving faster result.


 

 

Nigerian PDP Slams INEC , 2019: We have lost confidence in INEC

Started by yungcrux

Replies: 0
Views: 495
Last post February 21, 2018, 01:43:43 AM
by yungcrux
Nigerian National Drug Law Enforcement Agency NDLEA' nabbed notorious drug baron

Started by internet police

Replies: 0
Views: 494
Last post September 13, 2015, 04:50:27 PM
by internet police
Nigerian terror group Boko Haram repledged allegiance to ISIS group in new video

Started by mastercode

Replies: 0
Views: 451
Last post October 07, 2015, 08:50:13 PM
by mastercode
Customs boss, Hameed Ali vows to shun Nigerian senate invitation, Senate angry

Started by Postmaster

Replies: 0
Views: 718
Last post March 22, 2017, 03:56:17 AM
by Postmaster
President Obama Invites Nigerian President Buhari To White House

Started by admin

Replies: 0
Views: 458
Last post June 26, 2015, 09:17:55 AM
by admin
Buhari's first Nigerian President to stay at U.S President?s oficial guest house

Started by mastercode

Replies: 0
Views: 433
Last post July 20, 2015, 03:08:14 PM
by mastercode
Nigerian FG officially removed fuel subsidy, fuel will now sell for 145 naira

Started by admin

Replies: 0
Views: 408
Last post May 12, 2016, 06:14:32 PM
by admin
Kinsmen Named Outgoing Nigerian President Jonathan "A prodigal son"

Started by mastercode

Replies: 0
Views: 871
Last post May 21, 2015, 02:13:01 AM
by mastercode
Power failure Repeatedly disrupt Nigerian Senate probe on power sector

Started by internet police

Replies: 0
Views: 469
Last post September 10, 2015, 02:26:41 PM
by internet police
Nigerian First Lady Aisha Buhari jets to London to visit President Buhari

Started by internet police

Replies: 0
Views: 544
Last post July 03, 2017, 01:03:46 AM
by internet police