ICPC uncovers fraud in ministries, FCT, PHCN, Customs

The Independent Corrupt Practices and Other Related Offences Commission has uncovered massive fraud valued at over N16.85bn in federal ministries, departments and agencies following a systemic review in

their activities

The commission noted that while it exposed N1.85bn in MDAs, an additional N15bn fraud was allegedly uncovered in the Nigeria Customs and Excise alone.

A copy of the report exclusively obtained by our correspondent on Saturday showed that the MDAs’ evaluation, which harped on capital project verification, was prepared this June by the ICPC.

The examination, meant to encourage probity and adherence to due process, the anti-graft agency added, revealed large-scale financial inconsistencies and questionable deals in the MDAs.

Among MDAs indicted in the six-page report are the Federal Ministry of Transport, Nigeria Ports Authority, Power Holding Company of Nigeria, Federal Ministry of Science and Technology, Petroleum Equalisation Fund, Federal Capital Territory, Federal Medical Centres in Ebute Meta, Lagos, Asaba and Owo; National Human Rights Commission and the Energy Commission.

For instance, the investigation into the affairs of the PHCN showed that many approved projects, which were paid for by the organisation, could not be found for verification.

The report added that money paid for various abandoned projects, as well as duplicated projects could not be accounted for.

PHCN: Funds not accounted for

Part of the ICPC report reads, “The PHCN blames the inability of the Central Bank of Nigeria to speedily guarantee the safety of the funds of the foreign firms involved in the projects as well as the problems of delays in clearance at the ports by the Customs and the Standard Organisation of Nigeria.-punch