No Invoices, No Receipts! ₦4.4 Million Public Funds Disappeared in 13 Unbacked Transactions at FGC Ido-Ani

NewsNGR 

A troubling financial scandal has emerged at the Federal Government College (FGC), Ido-Ani, in Ondo State, where public funds running into millions of Naira were spent during the 2020 fiscal year without the necessary paperwork to justify them.

The findings, which cover transactions within 2020, reveal that 13 separate payments totaling ₦4,493,965.00 were made for various goods and services, yet the management failed to provide the basic documentation required by law to prove the money was spent legitimately.

According to the investigation, the funds were disbursed for routine needs such as bus hire and fuel, as well as the procurement of security items, drugs, and stationery. However, for every one of these 13 transactions, there was no written application, no Store Receipt Vouchers (SRVs), no delivery notes, and no invoices.

This lack of documentation is a direct breach of the Federal Republic of Nigeria Financial Regulations (FR 2009) specifically citing paragraphs 708, 603(i), and 415. 

Financial Regulation 603 states, “All vouchers shall contain full particulars of each service such as dates, numbers, quantities, distances and rates….and will invariably be supported by relevant documents such as LPOs, invoices, special letters of authority, time sheets, rates etc.”

These regulations are designed to ensure that every kobo spent by a government institution is traceable and accounted for.

Experts believe that such a massive documentation gap raises the risk of a total loss of revenue to the government and opens the door to the possible diversion of public funds. They also believe that without invoices or delivery notes, it is impossible to verify if the drugs, stationery, or security items ever actually reached the school or if the services paid for were rendered.

Notably, the management of the college, under the leadership of the Principal, Mrs. Eno Jane Okaliwe, who was in charge during the period, offered no response to these queries. 

While the school has recently seen the launch of legacy infrastructure projects by alumni , this audit revelation casts a shadow over the administrative handling of the institution’s day-to-day operational funds during the 2020 academic session.

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