THE NATION
The Central Bank of Nigeria (CBN) has no records of monies recovered by the Economic and Financial Crimes Commission (EFCC) between 2016 and 2019 as required.
This is according to the Office of the Auditor General for the Federation (OAuGF) in its 2020 Audited report of government finances.
The report, dated November 30, 2023, was submitted to both chambers of the National Assembly through the Clerk.
The OAuGF said the last time the CBN recorded an inflow of recovered funds into the federation accounts was December 2015.
It also said that the Recovered Funds component of foreign exchange inflows into the Federation Account of $40,502,645.06 was last reported in December 2015.
Such inflows were not reported between 2016 and 2019, says the report, adding that there were no documents to justify the non-recognition of recovered funds between 2016 and 2019.
In its management response, the CBN said: “There was no inflow for the period January 2016- December 2019.
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