KEBBI GOVT DONATES 10 HILUX VEHICLES TO BOOST SECURITY ON SOKOTO–BADAGRY SUPER HIGHWAY. (PHOTOS).

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 Kebbi Govt Donates 10 Hilux Vehicles to Boost Security on Sokoto–Badagry Super Highway  The Kebbi State Government has handed over 10 brand-new Hilux vehicles to the Federal Ministry of Works to strengthen security for personnel working on the Sokoto–Badagry Super Highway project. The vehicles were formally received by the Minister of State for Works, Bello Muhammad Goronyo, who praised Kebbi State Governor, Dr. Nasiru Idris (Kauran Gwandu), for the donation. Goronyo described the gesture as a clear demonstration of the state government’s commitment to protecting workers and contractors on the strategic highway corridor. He explained that the vehicles will be deployed exclusively to security operatives providing cover for construction teams along the section of the super highway passing through Kebbi State. The Sokoto–Badagry Super Highway is a multi-state infrastructure project aimed at improving connectivity and economic activities across northern and southern Nigeria. More...
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AUDITOR-GENERAL QUERIES CBN OVER $4.5BN MISSING FROM FOREIGN RESERVES. (PHOTO)

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 Auditor-General queries CBN over $4.5bn missing from foreign reserves

Auditor-General of the Federation, Shaaka Chira, has asked the Central Bank of Nigeria to offer an explanation for a missing $4.5 billion fund.


An audit report from the Office of the Accountant General said the missing sum was unaccounted for in Nigeria’s foreign reserves between 2018 and 2019.


The yearly audit report provides comprehensive information about the spending and financial affairs of the various ministries, departments, and agencies under the government in a fiscal year.


According to the report, the country’s foreign reserves, which stood at US$42,594,842,852.75 in December 2018, decreased to US$38,092,720,200.72 in 2019. By a simple calculation, US$4,502,122,652.03 could not be accounted for.


The violation occurred following the COVID-19 outbreak, during the tenure of Godwin Emefiele, the former governor of the apex bank currently standing trial in court over corruption allegations.


The Accountant-General has now urged CBN to offer explanations for the missing sum.


The audit report, stressing that the stability of the exchange rate may be jeopardised if the apex bank fails to justify the fund, stated: “This violates Section 25 of the Central Bank of Nigeria Act 2007, mandating the bank to endeavour to maintain external reserves at levels considered to be appropriate for the economy and the monetary system of Nigeria.”

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