Nasims News Today: Nasims Payment Delay Updates 12th January 2024

Nasims News Today: Nasims Payment Delay Updates 12th January 2024

Nasims News Today: President Bola Tinubu has responded to the current delay in NPower payments with firm action, suspending Edu Betta, the Minister of Humanitarian Affairs and Poverty Alleviation. This is a huge move. The postponement has given rise to conjectures and worries, suggesting potential financial malfeasance inside the ministry.

The dispute stems from Edu Betta’s approval of a sizable transfer, totaling N585.2 million, into a government employee’s personal bank account who oversees grants for Nigerians who are vulnerable.

The transaction in question has sparked public outcry and generated concerns over the openness of financial operations, as disclosed by a leaked letter dated December 2023.

Edu Betta was suspended by President Tinubu due to claims of financial irregularities and violations of Nigeria’s Financial Regulations, which are meant to stop corruption and fraud in government operations.

The instruction also calls for the Ministry of Humanitarian Affairs and Poverty Alleviation to conduct an investigation into its financial transactions by the Economic and Financial Crimes Commission (EFCC).

While a panel headed by the Coordinating Minister of the Economy and the Minister of Finance has been entrusted with performing a thorough diagnostic of the financial structure of social investment programs, Edu Betta has been told to transfer her responsibilities to the Permanent Secretary of the Ministry.

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The main objective is to reform pertinent organizations and projects, getting rid of institutional weaknesses and boosting public trust in these endeavors.

Edu Betta defended the payment, arguing that it was allowed under the nation’s civil service, but banking regulations make it quite clear that neither public nor private funds should be deposited into government or private bank accounts. It is believed that these acts were done with false purpose.

Mrs. Oluwatoyin Madein, the Accountant General of the Federation, dissociated herself from the dispute, stating that her organization had counseled the ministry on the appropriate procedure for such transactions. She emphasized that large sums of money shouldn’t be transferred to a certain person’s account under the Project Accountant’s name.

As the inquiry unfolds and public scrutiny rises, the NASIMS payment delay appears to be inextricably linked to the broader financial irregularities and mismanagement revealed inside the Ministry of Humanitarian Affairs and Poverty Alleviation. Stay tuned for future updates on this emerging scenario.

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