The Senate Committee on Public Accounts has begun investigation of ₦14.7bn proceeds of privatization of the Power Holding Company of Nigeria allegedly hidden in commercial banks by the Bureau of Public Enterprise.
The committee is acting on an audit query in the ‘Auditor-General for the Federation’s Annual Report on Non-Compliance/Internal Control Weaknesses Issues in Ministries, Departments and Agencies of the Federal Government of Nigeria for the Year Ended 31st December, 2019.’
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The Acting Auditor-General of the Federation, Adolphus Aghughu, had presented the report to the Clerk to the National Assembly, Ojo Amos, on September 15, 2021, while the Senate and House Committees on Public Accounts began investigation of the queries.
