The
It has therefore asked its committee on Public Account to ensure a thorough investigation of the alleged diversion of the funds by BPE officials to purchase property through
The uncovering of the alleged misappropriation of funds by the BPE was sequel to the submission of the 2015 audit report of the
Chairman of the Committee, Senator Mathew Urhogbide who was visibly angry yesterday over the reported diversion of N2.5 billion to
Responding, Ayewoh said BPE did not obtain any approval from Debt Management Office (DMO), adding that "we did not have approval from DMO to pay N2.5bilion from proceed of PHCN to
The committee chairman thereafter demanded for list of all BPE staff that benefited from the said property, which he said should be submitted to the Committee on Wednesday.
Urhogbide said the committee would ask the Federal government to ensure recovery of the said fund lodged with
BPE had in a written submission to the committee said, "This was a loan guarantee, but a fund placement at five per cent interest rate. It was used to negotiate a single digit interest rate to finance the bureau's staff Housing scheme.
"There is an approval from the office of Accountant General of the Federation authorising the Bureau to establish a relationship with the organisation.
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