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Budget Scandal: Tracka Reveals Fraudulent Payments In Billions

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In the 2022 budget expenditure, alarming revelations have emerged regarding fraudulent payments and questionable project allocations in Nigeria.

 

Tracka, BudgIT’s service delivery promotion platform, has brought to light several irregularities in the allocation and utilization of public funds.

 

According to Tracka, 12 transactions were discovered, mostly labeled as “payment of bulk stipends to the 2,802 ex-agitators of Ateke Tom camp in phase 1 as approved by the ia.” Additionally, 27 transactions were identified as “bulk payment to the 500 delegates of Boyloaf camp 2 phase 2 as approved by the ia,” with a total of N2 million paid to Ebikabowei Victor Ben.

 

It stated that these payments raise serious concerns as they appear to violate Section 713 of the Public Sector Financial Regulations, 2009, which strictly prohibits the payment of public money into private bank accounts.

 

Furthermore, Tracka’s analysis also exposed the misplacement of priorities in the budget allocations. It was discovered that a staggering amount of N81.7 billion was allocated to the construction of solar street lights, surpassing the combined allocations for schools and primary health centers, which amounted to N77.9 billion and N3.1 billion, respectively.

 

This disproportionate distribution of funds raises concerns, particularly given Nigeria’s pressing challenges, such as the high number of out-of-school children and alarming child and maternal mortality rates.

 

In addition, Tracka revealed that several agencies were assigned projects outside their mandate.

 

Notably, the Nigerian Army received N4.5 billion for the construction of the Dengi-Kwalmiya-Gagdi-Wawus Bauchi Road in Plateau State, the Nigerian Institute of Oceanography and Marine Research was allocated N1.2 billion across four projects to supply medical equipment to health centers in Ogun State, and the National Root Crops Research Institute, Umudike, was granted N580 million for road and streetlight construction in Abia State.

 

This misallocation undermines the monitoring, evaluation, and sustainability of the projects as the agencies lack the expertise and personnel required for quality service delivery.

 

Tracka’s Acting Head, Ayomide Ladipo, expressed her disappointment over these findings, emphasizing that such practices result in under-delivery of projects and a waste of taxpayers’ money and scarce resources.

 

She said “the implications of assigning projects to agencies out of their mandate is that it undermines monitoring, evaluation, and the sustainability of these projects.

 

“These agencies lack the expertise and personnel to ensure quality service delivery of these projects, leading to projects under-delivery and a colossal waste of taxpayers’ money and scarce resources.An example is the News Agency of Nigeria which was allocated N200 million to construct solar streetlights in Rivers State. What business does NAN have with streetlights?” Ayomide added.

 

Tracka discovered a 21% reduction in the percentage of empowerment projects this year compared to last year, where N58 billion of N100 billion was allocated to empowerment projects in 2022, while N37 billion of N100 billion was allocated to empowerment projects in 2023.

 

According to tracka, this is progress as it is the first time in three years that the percentage of empowerment projects in the ZIP will be less than 50%.

 

 

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NEWS

NAF Launches Devastating Strike On Terrorist Logistics Hub In Lake Chad

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The Nigerian Air Force (NAF) has successfully carried out a decisive strike against a terrorist enclave in the Lake Chad Basin, delivering a significant blow to militant operations.

Recall that on November 23, 2024, fighter jets from the NAF’s Operation Hadin Kai targeted the notorious Jubillaram area, a known stronghold of terrorist elements in the Tumbuns region.

In a statement issued on Monday, Air Commodore Olusola Akinboyewa, Director of Public Relations and Information for the NAF, confirmed that the operation was a direct response to recent intelligence.

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“This strategic location, identified through meticulous intelligence efforts, served as a critical food storage site and a sanctuary for terrorist commanders and fighters,” Akinboyewa said.

The airstrike, which followed a string of successful intelligence, surveillance, and reconnaissance (ISR) missions, was linked to several recent terrorist attacks, including an assault on Nigerian troops in Kareto on November 16, 2024.

“Intelligence had previously linked terrorists in this location to recent attacks, including the assault on troops in Kareto,” Akinboyewa added.

During the operation, NAF fighter jets launched a precise air interdiction mission, destroying key infrastructure used by the terrorists, including food storage facilities.

This strike disrupted the militants’ logistical operations and significantly weakened their capacity for future attacks.

“The destruction of the terrorist enclave, including food storage facilities, severely disrupted their logistical operations,” Akinboyewa noted.

Following the airstrike, mop-up operations were conducted using cannons to neutralize any remaining hostile elements.

“Mop-up operations using cannons ensured the complete elimination of fleeing hostile elements,” Akinboyewa stated, emphasizing that the operation was a comprehensive success.

The NAF reaffirmed its commitment to continuing operations in the fight against terrorism.

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“This mission demonstrates the NAF’s unwavering commitment to defending our nation and people, acting singly and supporting surface forces in counterterrorism operations,” Akinboyewa said.

“The NAF will sustain these robust independent and joint operations until all enemies of Nigeria’s prosperity and wellbeing are brought to justice.”

 

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International News

JUST IN: 17 Feared Missing After Tourist Boat Sank In Egypt’s Red Sea

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A diving excursion turned tragic on Monday when a tourist boat, Sea Story, sank in the Red Sea, off the coast of Egypt.

Officials confirmed that 17 people are still missing, while 28 others have been rescued.

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The boat was carrying 45 individuals, including 31 international tourists and 14 crew members, when it went down near the popular diving destination of Marsa Alam.

Rescue teams, including coast guard boats and helicopters, are continuing an intensive search for survivors.

 

 

 

 

 

Details shortly…………. 

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NEWS

Reps Debate Tinubu’s Loan Request

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A significant clash is expected in the House of Representatives this week as lawmakers from the ruling party and the opposition prepare to debate President Bola Tinubu’s request for a $2.2 billion loan to cover a N9.7 trillion deficit in the 2024 budget.

The Senate has already approved the request, with the House set to deliberate on it in the coming days.

Approval Likely, Says Deputy Spokesperson
Deputy Spokesperson of the House, Philip Agbese, expressed confidence that the loan would be approved. Speaking with The PUNCH, he emphasised that the Tinubu administration has been prudent with resources, and the loan aligns with capital projects outlined in the President’s letter to the National Assembly.

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“The Tinubu-led government has been prudent with our resources. We will approve the loan request without hesitation,” Agbese stated, assuring that the process would adhere to strict procedures.

Nigeria’s total public debt currently stands at N136 trillion. Despite this, Agbese defended the loan, citing the administration’s focus on critical infrastructure and fiscal policies to safeguard taxpayer resources.

He emphasised the government’s commitment to accountability, stating that the loan would be monitored to ensure its use aligns with its intended purpose.

However, members of the minority caucus have warned against the over-reliance on borrowing. Minority Leader Kingsley Chinda stressed that borrowing should be a last resort. “What did we get as income, and how was it applied that we required borrowing? What efforts have we made to raise funds without borrowing?” he asked, insisting that only verifiable answers to these questions would justify the loan.

Labour Party lawmaker Afam Oghene echoed similar concerns, pointing out the nation’s growing debt profile and urging transparency in how the funds would be allocated. “Nigerians are worried about the Presidency’s repeated requests for loan approvals… The concern is not just about the loans but also about the transparency and integrity of how the funds are being deployed,” he noted.

Some lawmakers argue that the loan is necessary for national development. APC representative Chike Okafor asserted that under-investment in critical sectors like health, education, and infrastructure necessitates borrowing. “What I do not support is borrowing to fund ordinary appetite. By this, I mean borrowing just to fund recurrent expenditures,” he clarified.

As the debate unfolds, the House must balance the need for infrastructural development with concerns about the country’s growing debt. The ruling party appears committed to securing the loan, while opposition lawmakers vow to scrutinise its necessity and terms.

This week’s deliberations will likely determine the trajectory of Nigeria’s fiscal policy amid mounting economic challenges.

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