Senate Queries BPE

ABUJA, Feb 21, (THEWILL) - The Senate Committee on Privatization today queried the Bureau of Public Enterprises (BPE) for unilaterally diverting funds appropriated for execution of some projects in the 2010 Appropriation Act without the approval of the National Assembly.

Handing down the query at a budget defence hearing in Abuja the Senate Committee disclosed that the Bureau spent the sum N1.5 billion as against the N844 million on personnel cost and 53.7 percent increase on overhead cost without the approval of the National Assembly.

According to its financial report made available to the committee, the Bureau also vired the sum of N25, 251, 527.75 for the maintenance of office building as against the sum of N9, 537 million appropriated in the 2010 Appropriation Act.

BPE also vired the sum of N11, 004, 806.26 for security services as against the sum of N3, 251, 250 appropriated; N12, 960, 310.12 on insurance charges/premium and several others.

Chairman Senate Committee on Privatization Senator Ayo Arise noted that the funds approved in the 2010 Appropriation Act for the online portal was not utilized by the Bureau, just as members of the committee frowned at the increase in personnel cost from N3.7 million to N1.5 billion representing more than 100 percent increment.