BPE queried over non-remittance of N8.7bn

The Senate has queried the Bureau of Public Enterprises (BPE) over series of financial infraction amounting to N8.7 billion.

This is contained in a 2015 report by the Office of Auditor-General for the Federation, said BPE committed the infractions between 2014 and 2015 financial years.

The audit report was considered by the Senate Public Accounts Committee, which probed the financial books of federal government agencies between 2015 and 2018.

The committee, in its report presented by the chairman, Senator Matthew Urhoghide (PDP, Edo), accused BPE of non-remittance of N4.7 billion dividends received on Federal Government Holdings.

BPE, in its response to the query, said all dividends received on Federal Government Holdings in the year under review amounting to N6.8 billion were transferred to Treasury Single Account (TSA) in September 2015.

But the Senate punctured the submission for lack of documentary evidence to back it and asked the agency to refund the sum of N4.7 billion to the CRF, evidence of which must be submitted to Auditor-General for the Federation and Senate Public Accounts Committee.

BPE, in another query adopted by the Senate, was alleged of diversion of N2.5 billion PHCN proceeds from Access and FCMB banks to now liquidated Aso Savings and Loans as a condition precedent to the staff cooperative mortgage, contrary to Financial Regulation 3205.

The committee observed that there was no approval from Debt Management Office (DMO) for the Bureau to secure loan from ASO Savings just as it was also observed that there was collusion between ASO Savings and BPE.

Consequently, the sum of N2.5 billion with all accrued interest must be remitted to the CRF by BPE, and officers involved in the transaction should be surcharged for the loss of government revenue, it said.

The Senate asked the agency to refund the sum to the government purse and submit evidence of remittance to the Auditor-General for Federation and Senate Public Accounts Committee.