Senate Committee on Public Account is probing the Bank of Agriculture (BOA) in Kaduna over N3.2billion fund allegedly disbursed to tractor vendor.
The indictment was sequel to the 2016 report of Auditor General of the Federation, which was scrutinised and considered by the Senate Public Accounts Committee chaired by Senator Mathew Uhroghide.
The committee further urged the bank to return the sum of N3.2 billions meant for tractors and other equipment procurement in 2015 by 10 vendors.
The committee indicted the management of the bank for being unable to account for N3.2 billion disbursed to 10 vendors out of the N3.6 billion provided for in the 2015 fiscal budget of the federal government through the bank.
It was gathered that the Federal Ministry of Agriculture selected the 10 unnamed vendors for the management of the Bank of Agriculture which thereafter disbursed the N3.2 billion.
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The committee indicted the management of the bank for being unable to account for N3.2 billion disbursed to 10 vendors out of the N3.6 billion provided for in the 2015 fiscal budget of the Federal Government through the bank.
The committee investigation however charged BOA to account for N3.2 billions being distributed to 10 vendors out of the N3.6 billion the Federal Government provided in 2015.
This order is following the Auditor General of the Federation’s 2016 report that could not identify who are the ten vendors given the contract as being selected by the FMARD.
The information in the public domain said that BOA was to oversee N3.2billons as being given to 10 merchinery and tractors vendors.
After adopting the committee’ s report, the Senate demanded that the 10 vendors pay back N3.2 billions, saying that BOA is required to keep an eye on and oversee the money’s release to ensure recovery in order to continue lending to other members.
The BOA response to the allegation was however not accepted by the Senate.
