A review of the Katsina State audit report for the 2023 fiscal year has uncovered allegations of large-scale financial mismanagement by a former director of finance, Aliyu Abubakar. The report accuses Abubakar, who served at the Katsina State Independent Electoral Commission, of withdrawing ₦511.8 million in cash without providing value to the commission. Additionally, ₦34.4 million was reportedly transferred without a trace.
The case is said to be pending with the state’s attorney general for further action.
The audit report also highlighted broader concerns over financial mismanagement in the state. It referenced a contract awarded to Kaibo International Nigeria Limited in April 2016 for ₦1.99 billion, with a completion timeline of 18 months. The company received an advance payment of ₦796.7 million, which was bonded by Diamond/Access Bank Plc. However, the project was abandoned, and the company failed to make significant progress.
Efforts to recover the remaining advance payment of ₦213.1 million have been unsuccessful. According to the audit report, Diamond Bank has yet to remit the funds to the state government’s account, citing delays in securing approval from its headquarters.
The report urged state authorities to recover outstanding funds from individuals involved and implement measures to prevent similar occurrences. It emphasized the need for the attorney general or the legal department to ensure accountability.
The findings have sparked renewed concerns about transparency and accountability in state expenditures, with calls for stricter oversight to curb corruption and ensure the efficient use of public funds.
Efforts to recover the remaining advance payment of ₦213.1 million have been unsuccessful. According to the audit report, Diamond Bank has yet to remit the funds to the state government’s account, citing delays in securing approval from its headquarters.
The report urged state authorities to recover outstanding funds from individuals involved and implement measures to prevent similar occurrences. It emphasized the need for the attorney general or the legal department to ensure accountability.
The findings have sparked renewed concerns about transparency and accountability in state expenditures, with calls for stricter oversight to curb corruption and ensure the efficient use of public funds.
