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FG Misapplied N1.04trn Special Fund –Senate
The Senate Committee on Public Accounts alleged yesterday that the Federal Government misapplied N1.04 trillion from the Special Funds Accounts (SFA) to unrelated purposes.
The committee’s finding is contained in a report on the status inquiry into the SFA, which was presented on the floor of the Senate in Abuja.
Presenting the report, Chairman, Senate Public Accounts Committee, Senator Ahmed Lawan (ANPP-Yobe), said the infractions were made between 2002 and June 2012.
Lawan said that several approvals of funds from the SFA during the period did not conform with the purposes for which the funds were established.
The SFA was established in 2002 as an interventionist fund for the development of the solid minerals sector, ecology and other critical areas of the economy.
The SFA, managed by the Federal Government, comprises the three per cent Development of Natural Resources Account, 1.46 per cent Derivation and Ecology Account, and 0.72 per cent Stabilisation Account.
Those deductions came from the federation account, said the report.
According to the report, N1.51 trillion accrued to the SFA as at June 30, 2012, from figures obtained from the Office of the Accountant-General of the Federation (OAGF).
Out of the amount, N1.23 trillion was recorded as total payments to beneficiaries from the account, the report said.
However, the report noted that the operation of the natural resources, ecology and stabilisation accounts were grossly abused.
It said several releases under this account were not related to the intendment of the account.
On natural resources account, the report detailed 16 abuses under this account, which amounted to N701.4 billon in 10 years, representing 100 per cent of the total amount released under the period.
Some of the infractions included a N2 billion loan granted for payment to Gitto Costruzioni General Nigeria Limited on September 19, 2005.
Also, the Federal Ministry of Foreign Affairs was granted a loan of N3.7 billion in 2004 to purchase a chancery in Tokyo.
Ostensibly, the loan to the ministry came from the account that was meant to assist states develop alternative mineral resources to oil and gas.
On other infractions to the natural resources account, the report noted that N5.7 billion loan was granted to the Ministry of Power and Steel in 2005 for the payment of severance package to disengaged steel workers.
Similarly, in October 2007, the Ministry of Finance also withdrew N10 billion for the payment of arrears of monetisation benefits owed Federal Government’s parastatals.
On the ecology account, the report said that out of N329.8 billion released during the period under review, N149.8 billion was abused, representing 45 per cent.
The report revealed that N750 million was released for the development of the Abuja Downtown Mall in 2007 from the fund meant to assist states ravaged by ecological problems.
Also misappropriated from the ecological funds was a N1 billion loan to Edo State Government, released in November 2002 and March 2003, respectively.
The Presidential Research and Communication Unit also received N200 million loan from the ecological fund in November 2002.
On the stabilisation account, created to provide for unforeseen contingencies and economic downturn, the report noted that N191.7 billion from the account was misapplied.
A total of N255 billion was released to the account between 2002 and 2012, and the report put its “level of abuse’’ at 75 per cent.
From the account, a loan of N309.2 million was granted to the Inspector-General of Police for purchase of vehicles for the United Nation (UN) peacekeeping operations in Haiti in 2006.
Also, N2.8 billion loan was granted to pay Federal Government of Nigeria 50 per cent contribution to the Phase 1 of the pioneer car finance scheme for public servants in paramilitary agencies in 2007.
The report by the committee also observed that out of N580 billion loans granted from the three accounts, N347.9 billion had yet to be recovered from various beneficiaries several years after.
It also noted that there was no regular reconciliation between the OAGF and the Central Bank of Nigeria.
Our correspondent reports that the committee’s recommendation for the Federal Government to recover all outstanding loans within six months did not pass through at the Senate.
Also, a recommendation for a legislation to be passed by the National Assembly to establish and regulate the SFA was also not passed.
In his explanation, Senate President David Mark said some of the recommendations by the committee had already been captured in a bill before the Senate to regulate the operations of the SFA.
Mark, however, said the report was a “wake-up call’’ to the legislators to be active in their oversight functions.
The Senate, therefore, directed its Public Accounts Committee to investigate further the disbursement and repayment of loans from the SFA.
Earlier, several Senators, who spoke after the presentation of the report, commended the committee for a painstaking work.
The senators were unanimous in their outrage over the revelations from the report and they conceded blame over their lax oversight functions of government agencies.
In his contribution, Senator Victor Ndoma Egba (PDP-Cross River) said the report had shown that “nothing has changed between when this Senate did the investigation into the PTDF and now’’.
Also speaking, Senator Ayogu Eze (PDP-Enugu) said a major lesson from the report was for the Senate to insist that the executive must present a revenue profile before subsequent debates on the budget
“Much as everybody is indicted, the legislature should rise up to its responsibility of overseeing the management of public funds,’’ he said.
On his part, Senator Bukar Ibrahim (ANPP-Yobe) noted that “these abuses have been going on for as long as we have been having governments in Nigeria’’.
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The Senate President, Senator Godswill Akpabio, has directed his lawyers to withdraw all ongoing defamation lawsuits against several individuals, saying he was moved by counsel during a New Year Mass.
Speaking at the Sacred Heart Parish in Uyo, yesterday, Akpabio said he had filed nearly nine lawsuits against individuals he accused of defaming him.
He said, “I had almost nine cases in court against some individuals who defamed me, who lied against me, who slandered my name.
“But I listened to the priest and suddenly realised he was talking to me, so I hereby direct my solicitor to withdraw all lawsuits against them.”
In 2025, Akpabio had filed several high-profile defamation lawsuits, including one against colleague Senator Natasha Akpoti?Uduaghan.
In late 2025, Akpabio filed a N200 billion defamation lawsuit against her over allegations of sexual harassment, which he denied and urged her to substantiate in court.
Earlier in the year, Akpabio’s wife also filed defamation suits against Akpoti?Uduaghan over claims she said had harmed her family’s reputation.
Relations between the two lawmakers soured after Akpoti?Uduaghan accused Akpabio of influencing her suspension from the Senate in March 2025, following her public allegations of misconduct.
The Senator had previously challenged actions taken against her in court, including a N100 billion defamation suit she filed against Akpabio and other defendants over alleged remarks that she said damaged her reputation.
With yesterday’s announcement, Akpabio has formally ended all pending legal disputes arising from defamation claims, signalling closure to the publicised litigations as the year begins.
Rivers State Governor, Sir Siminalayi Fubara, has declared that the best form of gratitude Rivers people owe President Bola Ahmed Tinubu for protecting the interest of the State is to galvanize massive support for the President in 2027.
Fubara disclosed this last Monday during the commissioning of Permanent Secretaries Quarters built by his administration at Elimgbu in Obio Akpor Local Government Area of the State.
He said that the State has what it takes to deliver the President during the 2027 general elections.
“We’ve taken a decision,our decision is for the good of Rivers State, our decision is to say thank you for the protection we have from Mr President, our decision is to prove that we have what it takes to deliver Mr President.”
Fubara expressed delight over the completion of the project, stating that the initiative was to provide accommodation, a basic need of life for public servants in the state to improve their productivity.
He explained that lack of effective social welfare was at the root of some incriminating actions that undermine the purpose of governance, noting that the commissioning of the newly built Permanent Secretaries Quarters marks a significant milestone in civil service welfare and institutional development.
“Insecurity begins when individuals are uncertain of what the next hour holds. This situation is especially challenging for family men and women, affecting confidence and decision-making,” he observed.
Fubara emphasized the need for proper maintenance of the facility and urged the beneficiaries to protect the project like a personal property, while directing the State Head of Service to appoint a facility manager to ensure long-term maintenance.
In her remarks, the Special Guest of Honour and Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, who unveiled the project, expressed appreciation to the governor and Rivers State for inviting her to commission the project.
She commended Fubara for prioritizing the welfare of Permanent Secretaries who are senior public servants and accounting officers, noting that the project reflects purposeful and visionary leadership, and urged other states to borrow a cue from the Rivers State Governor.
Walson-Jack described the initiative as a strategic investment in staff welfare and institutional continuity which she noted is in line with Renewed Hope Initiative on provision of mass housing and social stability.
“The commissioning of these houses reflect a deliberate commitment to the dignity, welfare, and productivity of senior public servants responsible for policy coordination and service delivery,” she said.
In his goodwill message, the National Secretary of the All Progressives Congress (APC), Senator Ajibode Bashiru, who led a high powered delegation on a visit to the governor, congratulated Rivers people for aligning with the Pan Nigerian political party, assuring that the interest of Rivers State will be duly protected in the APC.
He described President Bola Tinubu as a detribalised Nigerian who anchors his leadership on equity, fairness and justice, adding that the APC will provide a level playing ground for all.
The APC chief scribe also commended Fubara for providing good accommodation for public servants, stating that it will address issues of sabotage, compromise and disloyalty on the part of public servants.
Giving the project description, Permanent Secretary, Rivers State Ministry of Works, Dr. Austin Ezekiel-Hart, said the estate comprises 29 units, including nine standalone duplexes and 20 terrace buildings.
Facilities feature a water treatment plant, synchronized power generators, CCTV and alarm systems, a gym, recreational areas, and green spaces—designed to enhance comfort, performance, and productivity.
Earlier, the Head of the Rivers State Civil Service, Dr Mrs Inyingi Brown, had thanked the governor for his visionary initiative and unwavering commitment to the welfare of Rivers State Civil Servants, and restated the commitment of the State civil servants to the success of Fubara’s administration.
By: Taneh Beemene