• 385

    USD/NGN

Reps Order DMO To Refund N200m Within 48 Hours

Reps Order DMO To Refund N200m Within 48 Hours

The Debt Management Office (DMO) has been ordered by the House Committee on Public Accounts to refund N200 million to the Federal Government for dodging tax and engaging in several forms of financial carelessness.

Reps Order DMO To Refund N200m Within 48 Hours

The DMO was also ordered to bring forward all bank statements as well as certificates and treasury receipts of payments made to the FG treasury in the last three years.

The committee disclosed that it discovered during DMO’s audit that the organisation had been involved in serious financial recklessness, which among others include, failure to pay N27.7 million to the Federal Inland Revenue Services (FIRS) and Tax evasion.

The Committee Chairman, Solomon Adeola, held that the repayment became very important for the reason that the DMO helmsman, Dr Abraham Nwakwo, who came before the Committee yesterday could not prove to the lawmakers on the whereabouts of the money.

The organisation was also ordered to refund the N152 million collected in 2011 as Service Wide Vote (SWV) within 48 hours and make available evidence of payment.

Besides, the DMO was asked to show evidence of procurement procedure by the Department for International Development (DFID) and copies of how they used funds given to them by other organisations.

Adeola also lamented that they discovered that DMO collected N30 million yearly from DFID on behalf of Nigeria for capacity building without related details.

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