Accountant-general, NEITI To Recover $5.31bn, N69.5bn From Extractive Industries — Economic Confidential

Accountant-general, NEITI To Recover $5.31bn, N69.5bn From Extractive Industries

The Accountant-General of the Federation, Ahmed Idris, on Tuesday vowed that his office would work with the Nigeria Extractive Industries Transparency Initiative to recover N69.5bn and $5.31bn from the extractive sectors for the Federal Government.

Last month, the Executive Secretary, NEITI, Orji Ogbonnaya-Orji, announced that the N69.5bn and $5.31bn were outstanding funds from the extractive sectors which were captured from NEITI’s 2018 audit reports to date.

Speaking on the sidelines of a visit to the headquarters of NEITI in Abuja, Idris told journalists that the Office of the Accountant-General of the Federation would ensure the recovery of all government funds in the extractive industries.

Asked if the OAGF would move to recover the funds highlighted in NEITI audit reports, Idris replied, “This is part of the collaboration. We are always supportive of what NEITI is doing and they are equally collaborating with us.

“We will put hands together to make sure that whatever is due to government by way of revenue, royalties, fines and so on, will come to government.

“We are supportive 100 per cent of what NEITI is doing and we will assist them to achieve their objectives.”

The NEITI boss had stated that the monies were potential recoverable revenues which NEITI under his watch must recover.

Ogbonnaya-Orji said, “The current management under my leadership is already evolving policies and strategies that would ensure that the recommendations in our reports are followed through.

“Statutory recoverable revenues due to government are N69.5bn and $5.31bn as revealed by the 2018 NEITI audit reports.”

Ogbonnaya-Orji commended the accountant-general for the support given to NEITI and vowed to work with the OAGF in the recovery of the funds as well as in the functions of the inter-ministerial committee.

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