An in-depth investigation has recently exposed a shocking misuse of public funds in Nigeria, with at least N159.6 billion ($352 million) being diverted into private accounts by various ministries, departments, and agencies (MDAs) over the past six years.
This revelation has resulted in the indictment of several individuals and organizations involved.
The investigation, carried out by PremiumTimes utilizing data from Govspend, a government spending tracking platform, has revealed numerous questionable payments made by MDAs into private accounts. Among the offenders, the Office of the Special Adviser to the President on Niger Delta stands out, having disbursed N8.3 billion ($20 million) to an ex-militant leader in 130 separate transactions.
Surprisingly, even esteemed institutions such as the Ministry of Information and Culture, the Ministry of Women Affairs, and the Economic and Financial Crimes Commission (EFCC) were found to have made suspicious payments into private accounts. Other implicated entities include the Ministry of Aviation and Aerospace Development, Ministry of Petroleum Resources, Budget Office of the Federation, National Human Rights Commission, Police Formations and Commands, Nigeria Police Academy Wudil, Kano, National Directorate of Employment, National Commission for Refugees, Auditor General for the Federation, National Commission for Persons with Disability, Ministry of Communications and Digital Economy, and Federal Character Commission, among others.
In the year 2023 alone, the investigation uncovered that more than N13 billion in public funds had been funneled into private accounts. Notable violators during this period were the Office of the Secretary to the Government of the Federation and the Ministry of Humanitarian Affairs.
While some payments may have been legitimate, the report highlights several suspicious transactions. Even the EFCC, the agency entrusted with combating corruption, made payments totaling N211.7 million into two private accounts in 2023. Similarly, the Nigeria Police Force transferred N89.8 million to a former spokesperson, Frank Mba, purportedly for airing a police program on TV.
It is worth noting that such actions directly contravene chapter seven, section 713 of Nigeria’s Financial Regulations 2009, which explicitly prohibits the transfer of public funds into private accounts.
Furthermore, the investigation has uncovered that certain prominent individuals, including former President Muhammadu Buhari, former Vice President Yemi Osinbajo, former Secretary to the Government of the Federation, Boss Mustapha, as well as various ministers and aides who served in the Buhari administration, were recipients of severance allowances disbursed through individual accounts.
This damning revelation of the misuse of public funds has led to the indictment of several MDAs and high-ranking officials, raising concerns about accountability and transparency in Nigeria’s governance. The appropriate legal actions are expected to be taken against the implicated parties to ensure justice and prevent such malpractices in the future.