The Senate has uncovered the secret withdrawal of N7.5 billion from the two per cent National Automotive Council Levy Account domiciled with the Central Bank of Nigeria (CBN).
The Senate has asked the Minister of Finance, Zainab Ahmed, and the Accountant-General of the Federation, Ahmed Idris, to appear before it to resolve the issue of the missing fund.
“A total sum of N3,836,000,000.00 (Three billion, eight hundred and thirty-six million nairas) was irregularly withdrawn from the 2% National Automotive Council Levy Account with the Central Bank of Nigeria, Abuja in two instalments of N2,800,000,000 (in 2005) and N1,036,000,000.00 (in 2006) by the Accountant-General of the Federation and the Federal Ministry of Finance as car loan to be granted for the Security Personnel Car Purchase Scheme Loan.” A part of the query reads.
An audit report by the Senate Committee on Public Accounts said the funds were misappropriated at various times from the National Automotive Council Levy Account between 2005 to 2006.
When the committee asked for more information from the Director-General of the Commission, Aminu Jalal, he said they had no knowledge of the transfer.
He said the commission had written to the National Accountant-General repeatedly asking for the money to be returned to no avail.
Hearing this, the Senate directed the Accountant-General along with the Minister of Finance, Zainab Ahmed to appear before it for questioning.