Naijaonpoint
Like water coursing through a river channel, public funds are expected to follow prescribed financial pathways, with every movement properly documented and authorised. However, the Lower Niger River Basin Development Authority recorded ₦153,396,737.65 in financial irregularities across two findings in its 2023 financial year, involving payroll fund transfers and procurement of information and communication technology facilities.
The Lower Niger River Basin Development Authority, which manages irrigation and water-resource infrastructure across its catchment area, was found to have irregularly transferred ₦123,900,156.65 to its IPPIS transaction account.
According to the financial review, the transfer did not comply with the prescribed requirements governing the movement of IPPIS funds. The Financial Regulations governing IPPIS fund transfers require only verified and authorised salary amounts to be transferred into transaction accounts. The ₦123.9 million transfer therefore failed to meet the applicable requirements for the transfer and management of IPPIS-related funds.
Moreso, the finding relates to the handling of public payroll funds and the requirement that such funds pass through the prescribed and properly documented salary-payment process. The financial regulations require government institutions to ensure that payroll-related transactions are properly authorised, verified and accounted for.
Similarly, the Authority spent ₦29,496,581.00 on the procurement of ICT facilities without obtaining the mandatory clearance from the National Information Technology Development Agency (NITDA).
The procurement breached the applicable requirements of the NITDA Act, which provides for compliance with NITDA’s regulatory framework in government information technology procurement. The ₦29.5 million expenditure was therefore made without the required NITDA clearance.
Source: …Secretsreporters