Senate indicts BPE over alleged financial infractions amounting to billions

  The Nigeria Senate has indicted the Bureau for Public Enterprises (BPE) for not remitting the sum of N387.7 million incidental taxes to th...

 

The Nigeria Senate has indicted the Bureau for Public Enterprises (BPE) for not remitting the sum of N387.7 million incidental taxes to the Federal Inland Revenue Service (FIRS).

Senate Committee on Public Accounts chaired by Senator Mathew Uroghide, acting on series of audit queries issued the BPE by the Auditor General of the Federation said there was another infraction by the BPE where the sum of N8.7 billion meant for Consolidated Revenue Fund (CRF) wasn’t remitted.

The Committee urged the agency to remit the outstanding amount into the relevant accounts of the Federal government without delay.

Chairman of the Committee, Senator Mathew Uroghide sustained the audit query even as BPE allegedly committed series of financial infractions between 2014 and 2015 financial years, totalling N8,757,353,089.09 billion in violation of several rules of financial regulations.

The query further showed an infraction by the BPE as the sum of M4,736,932,467.67 billion dividends received from the Federal Government Holdings was not remitted to the Consolidated Revenue Fund ( CRF).

Officials of BPE in their response to the query said all dividends received on Federal Government Holdings in the year under review totalling N6,819, 388,791.00 billion were transferred to Treasury Single Account (TSA) in September 2015, but the Senate disagreed with the submission for lack of documentary evidence.

“The report adopted by the Senate reads: “The Committee observed that there was no evidence provided by BPE to show that the dividend was remitted to TSA.

“Consequently, the Committee recommends that the Bureau remits the sum of N4,736,932, 467.67 billion to the CRF, evidence of which must be submitted to the Auditor General of the Federation and Senate Public Accounts Committee.”

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Saga Gist - Top Source for Nigeria News: Senate indicts BPE over alleged financial infractions amounting to billions
Senate indicts BPE over alleged financial infractions amounting to billions
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