The Minister of Finance, Kemi Adeosun through a circular dispatched to all Federal Ministries, Departments and Agencies (MDAs) is requesting their Accounting Officers to prepare an inventory of all fixed assets held as at 31st December 2016, to facilitate physical verification by the Project Team.
The circular further requested all heads of MDAs “to ensure that any assets held by current and former staff are fully accounted for. In this regard, you may find it necessary to contact any former staff and /or political office holders to avail them the opportunity to return relevant assets in their possession.”
The circular emphasised that “all inventory records submitted will be cross-checked to capital releases and project account purchases to ensure completeness. Where assets have been sold or otherwise disposed of, they must be recorded with supporting authorization for sale and evidence of payment, where applicable.”
The Circular drew the attention of Heads of MDAs to Chapter 26 of the Financial Regulations, with regards to disposals of assets and warned that “any asset not accessible for physical inspection and not disposed of in accordance with financial requirements will be deemed to have been illegally withheld or converted. Please record such assets so as to enable the investigative agencies to be notified.”
The records of the assets disposed of should cover the last five years and all accounting officers of the MDAs were to submit their reports not later than three weeks from the date of receipt of the circular.
It could be recalled that the Independent Corrupt Practices Commission (ICPC) delivered 40 vehicles to the Federal Ministry of Water Resources which it recovered from some retired Directors of the Ministry; and also the Economic and Financial Crimes Commission (EFCC) announced the recovery of 40 Sports Utility Vehicles from a retired Permanent Secretary who served in the Federal Ministry of Power.