NSA Scandal: Presidential Committee recovers N7bn

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The presidential committee set up by President Muhammadu Buhari to look into the activities of the Office of the National Security Adviser (ONSA) have emerged with staggering revelation.

The committee indicted at least 300 ONSA contractors including serving and retired officers of the armed forces while over N7 Billion has been recovered so far from the indicted companies and individuals and a refund of N41 billion expected.

The committee also recommended that further investigation be carried out on contracts valued at over N75bn.

Below is the full list of companies and individuals indicted by the presidential committee.

PRESIDENTIAL COMMITTEE INDICTS OVER 300 ONSA CONTRACTORS, RECOVERS OVER N7 BILLION, ASKS FOR THE REFUND OF N41 BILLION, RECOMMENDS FURTHER INVESTIGATION OF CONTRACTS VALUED AT OVER N75 BILLION

A committee set up to probe contracts awarded by the Office of the National Security Adviser (ONSA) from 2011 to 2015 has indicted more than 300 companies and prominent citizens including serving and retired officers of the armed forces.

Over N7 Billion has been recovered so far from the indicted companies and individuals.

Another N41 Billion is to be refunded by the indicted companies while further investigation by the EFCC has been ordered to determine whether another N75 Billion should  be recovered from some of the companies for unexecuted or partially executed contracts.

The committee further established that one of the indicted companies, Societe D’Equipment International was overpaid to the tune of 7.9 Million Euros and $7.09 Million.

The committee which is different from the committee that is investigating the Defence Arms and Equipment Procurement, discovered that there was a total disregard of salient provisions of the Public Procurement Act in the award of contracts by ONSA.

Several contractors were apparently over paid, while others were given full upfront payments contrary to their contract terms and agreements in force.

There was also evidence of payments to individuals and companies by ONSA without any contractual agreement or evidence of jobs executed. The committee further discovered that somecompanies failed to meet up their tax obligations for contracts
executed.

The Committee has made attempts and succeeded in recovering some of the funds from these individuals and organizations amounting to Three Billion, Five Hundred and Thirty Seven Million, Five Hundred and forty Nine Thousand, Two Hundred and Twenty Three Naira and Four Kobo (N3,537,549,223.04), Eight Million US Dollars ($8,000,000.00) and houses worth Five Hundred and Twelve Million Naira (N512,000,000.00) from 32 companies. The Committee also established that some individuals and companies received monies without evidence of contractual agreements or jobs done. The amount received by these individuals was Seven Billion One Hundred and Four Million, Nine Hundred and Twenty Five Thousand Naira only
(N7,104,925,000.00).

In a similar vein, the Committee revealed that some companies that failed to execute contracts or did so partially were to make refunds. The total amount to be refunded is Nineteen Billion, Eight Hundred and Ninety Six Million, five Hundred and Thirty Nine Thousand, One Hundred and Twenty-five Naira and thirty kobo (N19,896,539,125.20) only, Forty Three Million Seven Hundred and Seventy One Thousand, Four Hundred and Thirty Three US Dollars and Seventy-Three Cents ($43,771,433.73) and 2 houses in Abuja worth Two Hundred and Sixty Million Naira (N260,000,000.00).

The Committee also revealed that 15 companies were awarded contracts that require further investigation to ascertain the status of their contracts. The total value of the contracts awarded in this category was Eleven Billion Seven Hundred and Twenty Six Million Five Hundred and Seventy One Naira only (N11,726,571,161.00), Two Hundred and Two Million, One Hundred and Twenty Six Thousand, Eight Hundred and Ninety US Dollars only ($202,136,890.00) and Four Million, One Hundred and Fourteen Thousand Seven Hundred and Fifty Two Euros and Ninety Six Cents
(€4,114,752.96).

Find list of Company here:http://rayoonline.com/2016/03/25/company-investi

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