Center for Peace, Transparency and Accountability (CPTA), sets the record straight on the allegation of misappropriation of Internally Generated Revenue (IGR) by the National Lottery Trust Fund (NLTF).
In a world press conference held by the center on Thursday in Abuja, the Executive Director, Comrade Patrick Ogheneyero made it known that there is no single evidence to prove an act of misappropriation committed by the NLFT while discharging it’s enshrined mandate.
Recall that a couple of days ago, the House of Representatives Committee on Finance made a spurious allegations against the NLFT regarding irregularities in financial spending in the cause of executing development projects.
“Part of the allegations was that the agency failed to justify the spending of six billion Internally Generated Revenue (IGR) in 2022 and spending the money without budgetary approval.
“According to the panel, NLFT spent over N2.0 billion in 2023 without approval”.
Comrade Patrick pointed out that the allegations are unwarranted, rootless and uncalled for, as there is no evidence to prove an act of misappropriation committed.
He said that, “All it’s actions are fully guided and backed by the laws and in line with the provisions of the Act that established the agency as overseer and revenue generation body around the gaming industry in Nigeria.
“Thus, it behooves on us to shed light on this matter as it pertains transparency, accountability, and ethical conduct of public officials.
“To set the record straight, we refer to the Act that established the NLFT as an independent body, which empowers the Trust Fund to use its IGR, after 40% deduction from the source in line with finance act 2020.
“Specifically, Section 40 of the National Lottery Trust Fund Act gives its management the power to use the fund as an intervention fund in specific areas of critical human interests aimed at improving the citizens lives and welfare, through provision of infrastructural facilities across various development sectors”.
According to the Section 40 of the Act; “The proceeds of the Trust Fund established under the section 35 of this Act shall be applied, from time to time – the Trust Fund projects approved by the president on the recommendation of the Board of Trustees, to be in the interest of the Nigerian community and such projects shall include but not limited to projects for the advancement, upliftment and promotion of sports development, education, social services, public welfare, and relief and management of natural disasters in Nigeria.
” Owing to the above clause, it’s obvious that the House of Representatives Committee on Finance have betrayed the trust vested on them by the house, regarding this task as they failed to do their homework adequately by NOT studying critically the provisions of the Act that established NLFT before they embark on such assignment blindly without proper knowledge of the Fund”.
Comrade Patrick made the position of CPTA clear by stating that “firstly, instead of the House Committee on Finance to subject NLFT management to media trial without giving them due opportunity to make a defense, it will be of good national interest for the Committee to go back to the floor of the House to make amendments on the provisions of the Act that established NLFT and gave it such power to spend IGR on projects that are beneficial to the Nigerian populace.
“Secondly, it is also pertinent that before the House Committee on Finance threw such tantrums into the public and caused unnecessary chaos, they ought to first investigate whether the NLFT spend money outside it’s jurisdiction as against those areas approved and outlined in the Act that established the Fund.
“Finally, it is on record that a larger percentage of the capital appropriation spent by the NLFT were used in construction and conducting other intervention projects, as most projects of the Honourable members of the National Assembly are domiciled in the NLFT Budget”.
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