Nigeria: House Queries N1 Billion Technical Audit Project

30 October 2009

Abuja — The House of Representatives yesterday raised questions over the fate of the one billion naira earmarked in the 2009 Appropriation Act for the conduct of a technical audit at the Ajaokuta Steel Company Limited. It also condemned in strong terms the alleged "massive looting" of equipment and property at the Ajaokuta Steel Company Limited and the National Iron Ore Mining Company, Itakpe, both located in Kogi State.

The lawmakers were apprehensive that the non-utilisation of the funds meant for the technical audit two months to the end of the current fiscal year may have given room for some unnamed persons to perpetrate the act of asset stripping and outright theft of properties belonging to the two firms.

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