22 January 2013

Nigeria: Reps Ask DMO to Refund N200 Million to FG Within 48 Hours

The House of Representatives Committee on Public Accounts yesterday gave the Management of Debt Management Office (DMO) 48 hours ultimatum to refund N200 million to the coffers of the Federal Government as demanded by law.

The committee said it uncovered financial impropriety in the Audited Report of DMO, a situation that has led to several unanswered questions by the Director-General of the DMO, Dr Abraham Nwankwo.

Nwankwo appeared before the committee yesterday to explain some of its financial activities in the last four years.

Committee Chairman, Rep Adeola Olamilekan Solomon, who gave the ultimatum, said DMO had failed to remit N27.7 million to Federal Inland Revenue Services (FIRS) in VAT and withholding tax in the year 2011.

He also directed DMO to immediately refund and show evidence of payment of another N152 million collected under 2011 budget as Service Wide Vote (SWV) to government treasury within same 48 hours.

Other requests made by the committee include evidence of procurement procedure of donations collected by Department for International Development (DFID), one of the major donor agencies to DMO.

Reports submitted before the committee so far indicated that no fewer than N30 million each was collected by DMO from DFID on behalf of Nigeria for capacity building without corresponding details.

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