The Public Account Committee (PAC) of the House of Representatives on Wednesday rejected the submission of the Nigerian Investment Promotion Commission (NIPC) on the audit queries from the office of the Auditor General of the Federation on the Non-Rediton Audited financial statement for the period covering 2020- 21 financial years.
The Committee chaired by Hon Busayo Woke Oke (PDP- Osun) while rejecting the submission said that the supporting documents were not signed or authenticated by any authority which made the submission invalid in the eyes of the law.
Consequently, the Committee stepped down all its queries and directed its new Executive Secretary, Mrs Saratu Umà r to go back with the Submission to enable her to familiarise herself with it and come back to defend it by next week Wednesday
The Director of Finance of the Commission, Mr Akwada James stunned the Committee members while defending the submission as he said that he was at loss while preparing the submission and that he did know how to explain the item by item in the queries as demanded by the Committee.
As a result, committee members one after the other pointed out several flaws in the submission which they said looked like a forged document that would not stand the test of time before the law.
Speaking, the Chairman of the Committee, Hon Oke said, “Madam Executive Secretary, agreed that you just came to the office but it today, one of the debtors of the Commission shows up to pay a debt of one billion naira, are you going to take the money as the Chief executive officer of the commission or not?”
The NIPC boss answered Yes, affirmatively that she would be glad to receive the payment promptly
In his response, the Chairman of the Committee then replied, “Good, if your answer is yes, this Committee will allow you to go back and go through your submission, familiarize yourself with the contents and the relevant supporting documents and come back to defend same before this Committee. We are practising the principle of fair hearing here, we are not here to ambush or harass individual or organization”
The Committee also faulted the claim of the Commission that its supervisory Minister gave it the approval to spend its over N1billion Internally Generated Revenue (IGR I), describing it as illegal and unacceptable.
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