Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Senate queries BPE for non-remittance of N23bn

28 February 2014, 14:20

Abuja - The Senate Committee on Privatisation on Thursday frowned on the Bureau of Public Enterprises’ (BPE) over the non-remittance of N23 billion to the Federation Account.

The Senator Gbenga Obadara led committee raised eyebrows over the non-remittance of the funds while the Bureau was defending its 2014 budget estimates before the committee.

Senator Barnabas Gemade said the act was illegal and unacceptable.

“It is very disheartening and wrong that N23 billion is still lingering in accounts within the BPE from proceeds of privatized agencies.

"This is illegal as the monies are supposed to be remitted as soon as they come in.”

The chairman of the committee, Obadara asked the BPE to make available to the committee evidence for any remittance made to the Central Bank of Nigeria (CBN).

“We want to see the documentation of the remittances since you have said six point something is ready to be paid.

“Give us that one, then we start looking at the remaining N18 billion,” he said.

The committee also asked that proceeds from the sold enterprises which had not been remitted to the CBN should be used to settle the outstanding liabilities owed Nigerians.

The committee noted that some of these Nigerians were seriously languishing in poverty just as others had already died.

The committee also summoned the Minister of Finance, Dr. Ngozi Okonjo-Iweala, and the Accountant General of the Federation,Jonah Otunla, to appear before it on March 13 for further clarifications.

In his response, the Director-General of BPE,  Benjamin Dikki told the committee that the N23 billion was in the custody of the Bureau.

Dikki added that plans had been concluded to remit about N6 billion to the Federation Account.

He thanked the committee for taking the resolution to use the unremitted funds from the sold enterprises be used to pay Nigerians as some of those owed had been picketing the bureau.

-  NAN

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page.


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...