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Nigeria: State Auditor Urges Nipost To Recover N150m Govt Fund



Auditor-General of the Federation has called on Nipost to recover the sum of N150 million to federation accounts.


This is according to its latest Audit report released by the office of the Auditor-General of the Federation. It stated that the Nigerian Postal Service, Nipost Abuja, failed to transfer the sum of N150 million from the 2015 internally generated revenue, IGR of the organization to the federal government accounts.


IT NEWS gathered that that the National Assembly appropriated N150,000,000.00 from the 2015 Internally Generated Revenue of the Organization to the Federal Government Treasury, as contribution to public funds but Nipost failed to remit same.


It stated that the action was intentional and a contravention of the 2015 Appropriation Act, particularly, as the Auditor-General of the Federation has made concerted efforts towards getting NIPOST to immediately correct the anomaly, but failed.


However, Vanguard reports that the AuGF said he has called on the Post Master General of the agency to recover the said amount to the Federal Treasury and furnish all the particulars for verification.
The report also pointed out that there was no updated Plant and Fixed Asset Register maintained for the purpose of capturing and recording of Fixed Assets acquired over the years.

This development, according to AuGF constitutes an infringement of Financial Regulation 2209 which stipulates that “every item of plant shall be numbered in series to be recorded in a register at the Headquarters of the Ministry/Ministerial offices and other arms of government concerned with the acquisition and issue of the plant. “The appropriate serial number shall be inscribed on the equipment.
The importance of maintaining a Fixed Asset Register cannot be over-emphasized because it enables the management to know at a glance, date of purchase of assets, make of the assets, source of acquisition, depreciation, residual value and location of asset. “These information help in securing and safe-guarding an asset. It is necessary to urgently set in motion, the necessary machinery for creating a Plant and Asset Register to ensure a comprehensive record of all the Assets owned or acquired by the organization,” the report ordered.

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