Economic and Financial Crimes Commission (EFCC) has uncovered phantom projects in the N819 billion 2022 Supplementary Budget.
The implementation period of the supplementary budget was on May 27 by the Ninth National Assembly from June 30 to December 31.
The budget is one of the challenges inherited by the Godswill Akpabio and Tajudeen Abass-led .10th National Assembly.
But the EFCC detected many sharp practices and under-the-table deals by the immediate past lawmakers, including most principal officers of the National Assembly.
Out of the 277 projects, 258 projects with contract value of N704, 789,763,043.00, are domiciled in the Federal Ministry of Works and Housing.
Most of the projects on “phantom roads” allegedly belong to members of the 9th National Assembly.
Five ongoing projects and rehabilitation works were allocated N140.1 billion.
The 258 projects comprise 184 new ones, 23 Federal Road Maintenance Agency (FERMA) projects and 51 ongoing projects.
Also in the budget are 121 projects worth N320. 7 billion located in the states of the principal officers of the immediate past Assembly.
A principal officer secured 14 of the projects with a cost of N55, 816,232,553.90.
A minority principal officer got N16, 521,273,684.74 allocated to him.
Other irregularities highlighted in the Supplementary Budget are duplication of projects, inclusion of already completed projects to siphon funds, ongoing and rehabilitation of projects with seemingly outrageous amounts, outright padding.
Records indicated that many projects were inserted in the budget of the Federal Ministry of Agriculture, Federal Ministry of Water Resources and in the Federal Capital Territory Administration.
It was gathered that with the ongoing investigation, many senators and House of Representatives members may face trial.
Some of the documents on the alleged budget fraud revealed how Ministries, Departments and Agencies (MDAs) were held hostage by some lawmakers.
A document reads in part: “Intelligence indicates that most of the projects of phantom roads amounting to billions of naira, which were inserted into the Federal Ministry of Works estimates, belong to members of the National Assembly.
“Despite this Supplementary budget, most of these projects are still in the 2023 Budget.
“Due process was not followed in arriving at the projects majority of which are new projects that looking at the time can come under the 2023 Supplementary Budget.”
Some of the specific details were contained in another document.
It says: “Two hundred and fifty-eight projects amounting to N704, 789,762,043.00 are domiciled under the Federal Ministry of Works and Housing. The 258 projects comprise 184 new projects, 23 FERMA projects and 51 ongoing projects.
“The 258 projects are spread across all the states in Nigeria except Enugu State.
“Three projects have the sane narration in the 2022 Amended Appropriation Act and 2022 Supplementary Act. Five ongoing projects have the considerable sum of N140. 080 billion.
“The rehabilitation of the National Assembly Complex, for Thirty Billion Naira (N30,000,000,000.00), an ongoing project, is approved for the Federal Capital Territory Administration (FCTA) in the Act.
“As of 15th January, 2023, the project has 70% for procurement of materials progress, 35% for overall work progress, and payment made so far is nine billion, two hundred million naira (N9,200,000,000.00).
“One hundred and twenty-one projects out of the total 277 projects listed in the Supplementary Act, worth N320, 722,065,252.08 are in the states of the Principal Officers of the National Assembly and Heads of Committees who supervise the various ministries.
“In the Ministry of Water Resources, the Supplementary Act further budgets N500 million for the Pategi Water Supply Project in Kwara State, an already completed project.
“A seemingly outrageous amount was quoted for rehabilitating the Nasarawa Water Project, a project that the Ministry has almost completed.”
As at press time, it was gathered that only the intervention of President Bola Ahmed Tinubu could halt the plot to fleece swindle the nation of scarce resources.
A highly-placed source said: “The President needs to allow a comprehensive audit of the Supplementary Budget and some of these infractions.
“What the lawmakers did will have strong effects on the economy. How can 2022 Supplementary Budget run till December 31st 2023?
“Are we in a Banana Republic? The President must act to avoid running conflicting budgets.”
A document highlighted the implications of the extension of the tenor of 2022 Supplementary Act.
It says: “The action of the National Assembly, which extended the life of the Supplementary Budget to December 2023 and the amendment of the Central Bank of Nigeria Act, has the following negative consequences.
“The Auditor-General of the Federation cannot audit the 2022 Accounts of the Federal Government of Nigeria until the end of 2023. An act that goes against the Constitutional provision that states that the Federal Government Accounts of 2022 shall be audited before 30th June 2023.
“The Federal Government of Nigeria will run two books of accounts throughout 2023, which is unhealthy for the economy. There will be more borrowing for the Federal Government through Ways and Means.”