The N10 billion naira earmarked by the federal government to restructure Nigeria’s postal service, NIPOST, has allegedly gone lacking.
This has led to the Senate ordering a probe into the lacking restructuring funds launched by the Federal Ministry of Finance.
The Senate allegedly found that unlawful transfers had been made to non-public people from two subsidiaries (NIPOST Properties and Growth Firm and Transport and Logistics Providers Restricted).
Ought to the allegations be confirmed, the Senate mentioned the committee accountable should recuperate the total quantity.
The decision reads: “The sum of N10 billion launched by the Ministry of Finance for the proposed NIPOST restructuring and recapitalisation be investigated and the funds totally recovered if established to be injudiciously utilised by the related committee of the Meeting charged with the duty of fiscal prudence.”
