ONSA: House investigating $10 billion fund that has gone missing

At a hearing on Tuesday, the House of Representatives ad-hoc committee to investigate recovered loots and government assets questioned over $10 billion allegedly missing from the coffers of the Office of the National Security Adviser, ONSA.

The Committee also wanted to know what happened to another $6.1 billion paid by ONSA into a contractor's account without authorization.

However, Brig-Gen Jafaru Muhamed, ONSA, who stepped in for the National Security Adviser, Maj Gen Babagana Mungono (Rtd), maintained the office did nothing improper in its financial dealings.

The chairman of the House's ad-hoc committee, Adejaro Adeogun, stated at the resumed public hearing that the committee remained committed to uncovering all illicit activities and assets held by various government institutions.

Regrettably, most government agencies do not adhere to the legislative standards and procedures for handling seized monies and assets, as there are no clear records of financial transactions or physical assets in their possession.

"For instance, the committee found out that there are no records of non-cash items like speed boats, assorted vehicles, drilling machines and other items recovered by the police while the presidential assets recovery committee lasted."

Deputy Inspector General of Police, (DIG) JO Egbunike who represented the Inspector General of Police, (IGP) Baba Alkali agreed with the lawmakers on poor record-keeping of the police, emphasizing the need for effective reforms.

He explained that the relevant records are not available because some serving and retired police officers have been hiding the documents.

Egbenike however, urged the committee to invite the people in question to cause appearance and shed more light on the entire transactions, recorded and not recorded.