Senate Vows To Investigate Alleged Missing $1bn Arms’ Funds

The Senate on Friday reacted to the alleged missing $1bn funds meant to purchase arms and ammunition for the Nigerian Army.

Controversy that ensued on Friday after the National Security Adviser (NSA), Major General Babagana Monguno (retd), alleged that $1bn funds were withdrawn from the Excess Crude Oil Account in 2018. The money was meant to purchase arms to tackle insurgency, and got missing during the tenure of the ex-service chiefs.

In his reaction, the Chairman of the Senate Committee on Army, Senator Ali Ndume, said the red chamber could investigate the allegation by Monguno against the ex-service chiefs.

Ndume said, “I have not ascertained the authenticity of the claims credited to the National Security Adviser as published in the media.

“I have just read it in the newspapers. It is a very serious allegation and we have to confirm from the source first.

“We will find out as part of our oversight functions. We will meet as a committee to take a decision on the matter. But we will first find out the genuineness of the claims. We cannot just act on rumours.”

READ ALSO: Missing Fund Can’t Happen Under Buhari – Presidency

The National Assembly in 2018 approved a request by President Buhari to withdraw $1bn from the Excess Crude Account for the purchase of arms to fight insurgency.

The President earlier told the National Assembly that he already ordered the payment of $496m to the United States government for the purchase of 12 Tucano aircraft ahead of legislative approval.

Several legislatures from both the Senate and the National Assembly at various times in 2018 described the anticipatory approval as an impeachable offence.

In November 2018, the House particularly resolved to investigate the finance of the Nigerian military, including how the $1bn was spent, the implementation of releases to the military under the 2018 Appropriation Act.