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Published On: Wed, Feb 26th, 2014

OAGF, NAICOM in N3.54bn contract scandal

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OAGF, NAICOM in N3.54bn contract scandalBy Etuka Sunday

The Office of the Accountant General of the Federation (OAGF) and the National Insurance Commission (NAICOM) have been fingered in an alleged N3.54 billion contract sum.

PREMIUM TIMES report that the fraud was perpetrated after a contract that was duly awarded by government to some private firms, which was executed, but the money was diverted to different set of companies.

The report has it that the N3.538billion contract sum was diverted and that the companies which received payment did not bid for the jobs; were not awarded the contract and are not known to have offered any service.

“The firms which offered service but have now been deprived their legitimate earnings are now crying foul.”

The companies accused NAICOM and the office of the Accountant General of the Federation, OAGF, of

masterminding the fraud-diverting the insurance premium due to them (42 insurance companies) to other entities.

Already, a legal firm representing the affected insurance firms, has petitioned the Minister of Finance, Ngozi Okonjo-Iweala, and the Attorney-General/Minister of Justice, Mohammed Adoke, seeking their intervention in the matter.

Copies of the petition were also sent to the Director General, Bureau for Public Enterprises, BPP, Emeka Ezeh; Accountant General of the Federation, AGF, Jonas Otunla, and the National Commissioner of

Insurance, National Insurance Commission, Fola Daniel.

The petition, obtained by PREMIUM TIMES, Alade Agbabiaka & Co., described the action of NAICOM and OAGF officials as “completely astonishing, unlawful and absolutely out of order.”

When contacted, the Director-General (BPP) Emeka Ezeh said the involvement of his agency in the transaction ended with its issuance of Certificate of Due Process.

He, however, noted that any unlawful diversion of entitlements to any entity outside the parties duly awarded the contract, constituted a criminal breach that should attract legal sanctions.

Mr. Ezeh, who confirmed receipt of a copy of the petition by the aggrieved insurance firms, said the document was forwarded to all relevant authorities, including the HCSF, for necessary action.

Also contacted, the National Commissioner of Insurance, Fola Daniel, denied knowledge of any letter from NAICOM directing the OAGF to divert the said premium to Crusader/Custodian & Allied Insurance.

The spokesperson at the OAGF, Charles Nwodo, said he would not respond to inquiries from PREMIUM TIMES, until he sees “concrete evidence of the memo authorizing the alleged diversion.”

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