Following the judicial panel of enquiry which was set up to probe the Abia State Universal Basic Education Board (ASUBEB) has discovered gross misappropriation of funds to the tune of N84 billion.
The panel in its report said that between its inception in 1999 and December 2012, ASUBEB has only accounted for N13 billion out of N97 billion it got within the period.
According to the report, the panel could only establish that N13 billion was spent by the board on about 1, 800 capital projects in 13 years while the board could not explain how it used the balance of N84 billion of the N97 billion cumulative funds flowing from the federal government, Abia state government, UBEC, ETF, and UNICEF.
The panel was set up by Governor Theodore Orji on April 15, 2013 following mounting pressure from the general public and it took the panel six months to come up with mind-bugging fraud that had plagued ASUBEB within the time under review.
Source: info Nigeria
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