{"id":142741,"date":"2024-08-13T21:18:29","date_gmt":"2024-08-13T20:18:29","guid":{"rendered":"https:\/\/newsdigest.ng\/?p=142741"},"modified":"2024-08-13T21:18:29","modified_gmt":"2024-08-13T20:18:29","slug":"waec-under-probe-over-n5b-loan-n6bn-deficit","status":"publish","type":"post","link":"https:\/\/thepublicpulse.ng\/?p=142741","title":{"rendered":"WAEC Under Probe Over N5b Loan, N6bn Deficit"},"content":{"rendered":"

The House of Representatives Committee on Basic Examination Bodies probed the West African Examination Council (WAEC) Nigeria’s financial activities during an investigative hearing on Tuesday.<\/strong><\/p>\n

The inquiry focused on a N6 billion deficit incurred by the agency in 2023 and a N5 billion loan obtained in 2022 for purchasing customized calculators.<\/p>\n

During the session, Josiah Dangut, the Head of WAEC Nigeria, appeared alongside senior officials, including Registrar Angus Okeleze and Acting Director of Finance Segun Jerumeh.<\/p>\n

Despite presenting the agency\u2019s cashbook, the Committee rejected it and demanded the submission of bank statements instead.<\/p>\n

The Committee, led by its chairman, expressed dissatisfaction with the responses from WAEC representatives and issued a directive for the submission of all bank statements from 2018 to date within a week.<\/p>\n

The lack of cooperation from WAEC was criticized, with concerns raised about the agency’s accountability.<\/p>\n

The Committee questioned the examination body’s financial management, particularly regarding the N34 billion revenue generated in 2023, which was overshadowed by N40 billion in expenditures.<\/p>\n

They also demanded explanations for the approval and use of the N5 billion loan, as well as details of the number of students involved in the 2022 examinations for which the calculators were purchased.<\/p>\n

The Committee further sought evidence of due process in awarding contracts, specifically the contract for constructing WAEC\u2019s office in Taraba State, which had a total value of N532 million.<\/p>\n

WAEC was accused of breaching financial and procurement regulations by paying 50 percent of the contract sum upfront.<\/p>\n

In response, Dangut requested more time to provide the required documents, citing inflation as the reason for the advance payment on the Taraba office contract.<\/p>\n

The Committee, however, emphasized its commitment to fulfilling its constitutional obligations and urged WAEC to cooperate fully by providing all necessary documentation promptly.<\/p>\n","protected":false},"excerpt":{"rendered":"

The House of Representatives Committee on Basic Examination Bodies probed the West African Examination Council (WAEC) Nigeria’s financial activities during an investigative hearing on Tuesday. The inquiry focused on a N6 billion deficit incurred by the agency in 2023 and a N5 billion loan obtained in 2022 for purchasing customized calculators. During the session, Josiah […]<\/p>\n","protected":false},"author":1,"featured_media":123667,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18],"tags":[298],"class_list":{"0":"post-142741","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-waec"},"yoast_head":"\nWAEC Under Probe Over N5b Loan, N6bn Deficit - The Public Pulse<\/title>\n<meta name=\"description\" content=\"The House of Representatives Committee on Basic Examination Bodies probed the West African Examination Council (WAEC) Nigeria's financial activities during an investigative hearing on Tuesday.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thepublicpulse.ng\/?p=142741\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WAEC Under Probe Over N5b Loan, N6bn Deficit - 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