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Why CBN stopped INECís N20billion

Posted by By The Sun Publishing on 2006/10/04 | Views: 348 |

Why CBN stopped INECís N20billion


Facts have indicted that the stoppage of a N20billion cheque to contractors of the Independent National Electoral Commission (INEC) for the supply of voter registration materials was due to governmentís last minute discovery of inflation of contracts by the commission.

Facts have indicted that the stoppage of a N20billion cheque to contractors of the Independent National Electoral Commission (INEC) for the supply of voter registration materials was due to governmentís last minute discovery of inflation of contracts by the commission.

Impeccable presidency sources disclosed that the government discovered that the electoral body inflated the cost of Data Capture Equipment (DDC), which it is importing for the voter registration exercise by over 100 per cent.

The international competitive price of the DDC was established to be $1,000 per equipment whereas INEC awarded the contract for $2, 200 per equipment, said a presidency source. INEC has placed order for 140,000 pieces of the equipment. A presidential aide and his brother were alleged to have introduced three Nigerian companies who were awarded the contract. The companies, in turn, awarded the contract to three foreign companies from India, Brazil and South Africa. The three layers between INEC and the manufacturer of the DDC is at the heart of the problem in the N20b INECís trapped funds.

Reacting to the development last night, INEC said it was not in any contest of figures with the Federal government, declaring its readiness to work with any figure deemed appropriate by government, so as not to scuttle the forthcoming voters registration exercise.

Speaking through the chief press secretary to the commissionís chairman, Mr Andy Ezeam, on telephone, it assured Nigerians that it will follow the due process.

ďINEC has made it clear from the beginning that it does not want to get into this finger pointing or blame game. INEC is assuring Nigerians that it is following the terms of due process and that whatever happens, INEC will ensure that voters registration goes on well. INEC will like to work with any figure deemed appropriate so that we can go on with it. That is the bottom line.Ē

Sources however revealled that it was this discovery in which Nigeria will lose hundreds of millions of dollars that informed the stoppage of payment for the contracts of INEC. Government feels the whole of INEC contracts need to be reviewed or certified, a source said.

However, fears have emerged that the INEC may not be able to accomplish the registration of voters as lined up in its election time table.

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Comments (3)

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Abieyuwa(Edo, Nigeria)says...

Otasowie means evening life is better than morning life. There is an error in your ‚Äúevening life is better than evening life‚ÄĚ?

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Naija g(Houston, Minnesota, US)says...

Sokari doesn’t mean joy. Joy is Biobela. Go to the village and ask the meaning of the name.

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Fay(Katy, Texas, US)says...

Actually translates to bravehearted.