New Telegraph

February 25, 2024

We’re investigating N7bn alleged budget fraud – ICPC

…recover N1.264b tax diversion

The Independent Corrupt Practices and other related offences Commission (ICPC), said a politically-exposed person (PEP) was found to have fraudulently inserted a project worth over N7 billion into the Budget, under the guise of empowerment.

This was as the Commission further announced the recovery of a whopping N1.264 billion said to have been cash diverted from revenue generated, tax accrued to the government.

Chairman of the ICPC, Prof. Bolaji Owasanoye (SAN), made the disclosures at the 4th National Summit on Diminishing Corruption in the Public Sector in Abuja, Tuesday.

“In support of the government’s effort to improve revenue generation the Commission continues to investigate diversion of tax and other statutory revenues as part of routine investigation and has recovered N1.264 billion this fiscal year.

“In another case the PEP inserted soft projects worth over N7 billion for a catchment population of about one million people in the name of empowerment. Both cases are under investigation.

“As part of the efforts to sanitise the public service and upscale integrity the Commission has been collaborating with the OHCSF to flush out fake appointments and screen candidates for appointment to the position of permanent secretaries amongst other initiatives,” he said.

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