W3vina.COM Free Wordpress Themes Joomla Templates Best Wordpress Themes Premium Wordpress Themes Top Best Wordpress Themes 2012

Presidential Amnesty Programme Returns N26bn Unspent Funds

Spread the love

(AFRICAN EXAMINER) – The Presidential Amnesty Programme says unspent funds in 2020 totaling N26bn have been returned to the treasury which is according to the extant financial guidelines.

This was disclosed by the Special Adviser, Media, to the Interim Administrator of the PAP, Mr Nneotaobase Egbe, on Friday who stated that PAP like other agencies was not free from the Treasury Single Account policy of the federal government to curtal corrupt practices in the MDAS.

According to Egbe, the last quarter funds remittance arrived  a few days to the terminal date for the 2020 fiscal year and the PAP was only able to disburse a part of it and the payment portal shut the unspent N26bn.

He said: “The PAP hereby states emphatically that it is true that N26 billion in the account was mopped up on December 31, 2020, as a part of the Federal Government wide financial process.

“It is not true that PAP was targeted or singled out as has been rumoured on social media. It has thus become necessary to state the facts as follows:

“In order to reduce the debts owed to several contractors since 2014, a payment plan that was sequential was initiated.

 “It started with the oldest debt in consideration of vendors’ interest payments on loans secured from banks to execute their contracts.

“A total of 104 such debts based on our records of the level of job completion have been paid as of December 31, 2020.

“Other verified payments could not be made before December 31, 2020, because PAP’s funds for September/October allocation and November/December allocation were received on the 28th of December 2020 and 29th December 2020, respectively.

“In compliance with the Federal Government’s anti-corruption and extant financial regulations, our system was only able to disburse a portion of these funds before the Federal Government’s Treasury Single Account was automatically shut down.”

He stated that the Accountant General of the Federation was informed of the necessity to roll over the funds so that the obligations of the agency to is eneficiaries and contractors will be met.

He said: “PAP is committed to prudently dispensing its financial obligations based on extant financial regulations. We, therefore, urge our ex-agitators/delegates and communities and contractors to remain calm.

“We are sure that these issues would be resolved speedily, and PAP would receive exclusive rollover of funds going forward to avoid this type of situation in the future.

“PAP remains committed to restoring payment of stipends on the 25th of every month once the bumps are cleared.”


Spread the love
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Short URL: https://www.africanexaminer.com/?p=59571

Leave a Reply

Time limit is exhausted. Please reload CAPTCHA.

FIDELITY

uba

advertisement

Classified Ads

Like us on Facebook

advertise with us