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Fresh N3.3trn fraud uncovered: NNPC cornered N3.2trn; Dasuki got N36bn for construction of dams; N2.9bn spent to buy hand sanitisers for schools; NPA, Prison, FAAN, Police also indicted

Ibrahim Ahmadu by Ibrahim Ahmadu
March 14, 2016
in Breaking News, Business, Economy
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Even when Nigerians are still trying to shrug off the effect of the monumental fraud uncovered by the Muhammadu Buhari administration, a fresh N3.3 trillion fraud has been traced to some government agencies.
Leading the pack is the Nigerian National Petroleum Corporation (NNPC) with a N3.2 trillion fraud.
Former National Security Adviser (NSA), Colonel Sambo Dasuki (rtd), who is still standing trial, was accused to have collected another N36 billion to construct dams.
Among other revelations, N2.9 billion was also said to have been used to purchase hand sanitisers for schools during the Ebola crisis in the country.
The Nigerian Ports Authority (NPA), Nigerian Prisons Service (NPS), Federal Aviation Authority of Nigeria (FAAN), Police Service Commission and others were also indicted.
The revelations were contained in a report by the Federal Government submitted to the Clerk of the National Assembly, Salisu Makaisuwa, by the Auditor General of the Federation, Samuel Ukura.
Ukura revealed that the N3.2 trillion, realised from sales of crude oil, was not remitted to the Federation Account Allocation Committee (FAAC) by NNPC.
He revealed that total payments amounting to N73.5 billion ‎were made, contrary to the established purpose of the funds.
The report reads: “The sum of N36 billion was released to the Office of the National Security Adviser for the rehabilitation and construction of Dams instead of the Federal Ministry of Water Resources.
“The sum of N2.9 billion was spent for the procurement of hand sanitizer for schools and critical public places.
“The sum of N31 billion was payment of subsidy on fertiliser and youth employment in Agriculture programme.
“The sum N2.4 billion was payment for group life Assurance Premium for Armed Forces Budget in 2013 but not cash backed.
“The sum of N500 million was payment for schools Agricultural programmes.
“From examination of NNPC mandates to CBN on domestic crude Oil sales and reconciliation statement of Technical Sub-committee of Federation Allocation Committee meeting held in January 2014, amount not remitted to FAAC was N3.2 trillion.
“Review of sales profile on sales of Gas to Nigeria Liquefied Natural Gas (NLNG) was not paid to the Federation Account but transferred to ‎some undisclosed Escrow Accounts. Relevant documents were not made available for verification.”

Tags: dasukifaanfraudmakaisuwaNational Assemblynnpcnpapoliceprisonukura
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© 2026 Published by SWAAYA LIMITED, Plot 20, Block G, Scheme 1, Residential 3, OPIC Beachland Estate, Lagos/Ibadan Expressway, Lagos. Gabriel Akinadewo, MD/CEO 08023010222, 08094000056, 08052097814.