Merry Xmas And Happy New Year In Advance To You All From Admin!Dear Members,Do you know that naijacrux is fully programmed to serve you better, Do you know that you can share your favorite post on naijacrux with friends on twitter,facebook, googleplus,myspace and many more! To share post on naijacrux with friends and family on twitter, facebook,googleplus,myspace,and many more, scroll to the down page of the post, Click on the Social Icon You Want To Share On To Share.


Author Topic: Nigerian FG recovers N1.6 Billion illegal bank charges from commercial bank  (Read 9724 times)

0 Members and 1 Guest are viewing this topic.

Offline yungcrux

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 1374
  • 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: 813
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: 829
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: 727
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: 1024
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: 878
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: 856
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: 701
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: 1168
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: 783
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: 780
Last post July 03, 2017, 01:03:46 AM
by internet police