Tag: procurement act
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Nigeria lost ₦2.9 trn to contract fraud in three years -EFCC Chairman
The recently appointed Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that an estimated ₦2.9 trillion, allocated for various government projects, was embezzled by contractors between 2018 and 2020. This revelation came to light during his Senate screening process on Wednesday. He was subsequently confirmed as the new EFCC Chairman.…
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Fashola seeks special funds for power, review of procurement act
Minister of Power, Works and Housing Babatunde Fashola has advocated provision of special funds for the power sector and approval for the infrastructure Ministries to utilise all funds released even after expiration of a financial year. According to a communiqué from the ministry yesterday, Fashola made the call during the Retreat for Directors, Chief Executive…
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Reps summon Fashola, Adeosun, others over violation of Procurement Act
The House of Representatives Committee on Public Procurement, yesterday, summoned Minister of Power, Mr Babatunde Fashola; Minister of Finance, Mrs Kemi Adeosun; Comptroller General of Customs, Col. Ahmad Ali (retd), and others over their alleged roles in pre-shipment inspection deals bordering on violation of Procurement Act of 2007. The lawmakers also invited Director-General of Industrial…